Adobe's $20 Billion Figma Acquisition Likely To Face EU Investigation (gizmodo.com) 22
According to a report from The Financial Times, the European Union Commission is planning an in-depth investigation into Adobe's $20 billion purchase of Figma, the popular online graphics editing and interface design application. Gizmodo reports: Back in February, the EU Commission noted that it had received numerous requests to review the business deal. The international watchdog announced that it would need to clear the proposed merger, under the justification that it "threatens to significantly affect competition in the market for interactive product design and whiteboarding software."
Now, the Brussels-based Commission will open a phase II investigation, per the FT. Generally, anti-competition probes are handled at the phase I level, which accounts for 90% of all cases, according to EU internal data. In comparison, a phase II analysis takes more time and goes deeper. By the Commission's description, a phase II investigation "typically involves more extensive information gathering, including companies' internal documents, extensive economic data, more detailed questionnaires to market participants, and/or site visits." From the start of such a probe, the regulatory body has 90 days to make a decision.
The EU Commission would not directly confirm its plans to investigate the Adobe/Figma merger. In an email, spokesperson Marta Perez-Cejuela told Gizmodo, "this transaction has not been formally notified to the Commission." Such notification is a requirement before any investigation can move forward. Commission officials requested that Adobe submit an official notification in February. Despite the Commission's lack of formal announcement, an EU probe into the acquisition is expected. Already the U.S. Department of Justice and the United Kingdom's Competition and Markets Authority are looking into the digital design tool deal. The DOJ is reportedly preparing to file an antitrust suit blocking the merger, while the UK CMA is actively investigating the acquisition, with a first decision due by the end of June.
Now, the Brussels-based Commission will open a phase II investigation, per the FT. Generally, anti-competition probes are handled at the phase I level, which accounts for 90% of all cases, according to EU internal data. In comparison, a phase II analysis takes more time and goes deeper. By the Commission's description, a phase II investigation "typically involves more extensive information gathering, including companies' internal documents, extensive economic data, more detailed questionnaires to market participants, and/or site visits." From the start of such a probe, the regulatory body has 90 days to make a decision.
The EU Commission would not directly confirm its plans to investigate the Adobe/Figma merger. In an email, spokesperson Marta Perez-Cejuela told Gizmodo, "this transaction has not been formally notified to the Commission." Such notification is a requirement before any investigation can move forward. Commission officials requested that Adobe submit an official notification in February. Despite the Commission's lack of formal announcement, an EU probe into the acquisition is expected. Already the U.S. Department of Justice and the United Kingdom's Competition and Markets Authority are looking into the digital design tool deal. The DOJ is reportedly preparing to file an antitrust suit blocking the merger, while the UK CMA is actively investigating the acquisition, with a first decision due by the end of June.
Figma? (Score:2)
Figma horse?
Do people even think of what their company names will be used for in advance? This is almost as bad as making your company name Ligma.
Re: (Score:2)
5 Letters @ $20B.
Memorable domain names are still important, apparently.
Re:Figma? (Score:4, Funny)
Do people even think of what their company names will be used for in advance?
Perhaps it was just a figma of their imagination ... :-)
Re: (Score:2)
Given what CCleaner was originally called, I'm going to say that sometimes they don't. But WinAmp does still really whip the llama's ass. ;)
Re: (Score:2)
Given what CCleaner was originally called, I'm going to say that sometimes they don't. But WinAmp does still really whip the llama's ass. ;)
Well the Windows Registry really was a big pile of crap, so...
product name checks out.
Re: (Score:2)
Yeah, I'm not saying they were wrong, just that it maybe wasn't the friendliest name for eventual marketing purposes.
Re:How the fuck can Figma be worth $20 Bn (Score:4, Informative)
Re: (Score:3)
Figma is a UI design layout/prototyping program. What were you talking about?
Hey EU, (Score:2)
Figma balls!
Inflation is nuts! (Score:2)
Rolling in money (Score:1)
Re:Rolling in money (Score:4, Insightful)
Re: (Score:3)
Figma and Adobe XD are pretty much the same program, $20B to squash the competition is a little crazy but a solid long term plan apparently.
How long until they take down their official page delineating Figma's superiority over Adobe?
https://www.figma.com/figma-vs... [figma.com]
Re: Rolling in money (Score:1)
So the EU doesn't like it (Score:2)
Why doesn't an EU company buy Figma?
Re: So the EU doesn't like it (Score:2)
Fuck Adobe. (Score:4, Insightful)
You can almost certainly say goodbye to any kind of free tier. I'm thinking they're just going to kill off Figma after buying it to promote their inferior XD product.
Stop, just stop (Score:2)