![](https://www.pymnts.com/wp-content/uploads/2023/07/Adobe_2207656941-1.jpg)
In a closed hearing scheduled for December 8, software giant Adobe is set to defend its proposed $20 billion acquisition of design software firm Figma against antitrust charges brought by the European Union. The impending decision carries significant implications for the global market of interactive product design software, and European regulators have expressed concerns over potential consequences for competition and consumers.
The European Union has been rigorously investigating Adobe’s attempt to acquire Figma for several months, scrutinizing the $20 billion deal that could reshape the landscape of design software. A warning from EU authorities suggests that the acquisition may result in a reduction of competition within the interactive product design software market, where Figma has played a pivotal role in providing an alternative to Adobe’s dominant position.
While Adobe holds a market leadership position in design, image, and video software, Figma has carved a niche for itself by offering competition specifically in web and product design. European regulators argue that by absorbing Figma, Adobe could eliminate a key competitor, potentially limiting choices for consumers and raising concerns about monopolistic practices.
Related: EU Regulators To Asses Adobe’s $20 Billion Figma Deal
The closed hearing on December 8 represents a crucial moment for Adobe, offering the company an opportunity to present its case and address the antitrust concerns raised by the European Union. Adobe aims to persuade regulators that the acquisition is in the best interest of the market and consumers alike. The decision by the EU on whether to approve the deal is expected by February 5, 2023.
In response to the regulatory scrutiny, Adobe has expressed openness to alternative proposals that could alleviate concerns raised by European authorities. This indicates a willingness on Adobe’s part to work collaboratively with regulators to address potential competition issues and ensure a fair and competitive market for interactive product design software.
The outcome of this high-stakes hearing and subsequent decision by the European Union will undoubtedly shape the future of the design software market, influencing competition dynamics and the choices available to designers and businesses across the globe.
Source: Reuters
Featured News
Mexico Moves Forward with Reform to Eliminate Key Regulators, Including Competition Watchdog
Aug 23, 2024 by
CPI
DOJ Sues RealPage for Alleged Rent-Fixing Scheme Using AI Software
Aug 23, 2024 by
CPI
Advance Auto Parts to Offload Worldpac for $1.5 Billion
Aug 22, 2024 by
CPI
Bronfman Ups Ante to $6 Billion in Paramount Battle, Skydance Deal at Risk
Aug 22, 2024 by
CPI
Google and California Strike Historic Deal to Fund Newsrooms Amid Controversy
Aug 22, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – State Attorneys General
Aug 22, 2024 by
CPI
CPI Talks… …With Attorney General Phil Weiser
Aug 22, 2024 by
CPI
The Bipartisan Miracle of State Antitrust Enforcement
Aug 22, 2024 by
Gwendolyn J. Lindsay Cooley
Recent Developments in State Antitrust Enforcement: Agriculture and Food Markets
Aug 22, 2024 by
Elizabeth R. Odette
State Attorneys General: Stewards of Consumer Health and Welfare
Aug 22, 2024 by
Brooke Howlett Lovrovich