It looks like the regulatory scrutiny surrounding their planned merger was too much for Adobe and Figma to navigate as the two firms announced today that they were canceling their planned union.
You might have read our article about this a while back.
In what some people might call a victory for consumer choice, the massive merger basically fell apart over UK regulatory issues that raised concerns about the strength of the UK’s digital creator market with such a massive merger.
To conform with regulatory needs, Adobe would have had to ditch or “divest” itself of some pretty precious assets. In the sum of things, the company decided it just wasn’t worth it to move forward. Aimed at “rebalancing” competition in some way, Adobe ultimately made the call that the company would not emerge in a better-off position if everything went forward as requested.
“Adobe and Figma strongly disagree with the recent regulatory findings, but we believe it is in our respective best interests to move forward independently… While Adobe and Figma shared a vision to jointly redefine the future of creativity and productivity, we continue to be well positioned to capitalize on our massive market opportunity and mission to change the world through personalized digital experiences,” Adobe Chair and CEO Shantanu Narayen said of the deal according to The Verge.
Word on the Internet is pretty neutral so far but the few people who are passionate about this topic are hailing this as preserving choice and competition in an increasingly shrinking field as far as major players go.
Do you use either Adobe or Figma (or both)? Let us know your thoughts on each in the comments below.
We have some more headlines for you to read at this link right here.
