The European Union’s antitrust regulators have temporarily halted their investigation into Adobe’s proposed acquisition of Figma, a cloud-based designer platform worth $20 billion. This pause comes as they await crucial information from both companies involved in the merger.
The European Commission, responsible for overseeing competition within the EU, decided to suspend the investigation, effective from September 19. A new deadline for the inquiry will be established once Adobe and Figma furnish the requested data.
Explaining this delay, the EU competition watchdog stated, “This procedural measure in merger investigations is initiated when the involved parties fail to provide essential information promptly, as requested by the Commission.” The previous deadline for the investigation had been set for January 8.
Concerns previously voiced by the Commission center around the potential consequences of this deal. There are apprehensions that the acquisition could eliminate a significant rival to Adobe, potentially allowing Adobe to stifle competition within global markets for interactive product design tools.