He says that if the DOJ succeeds, it could have a devastating impact on businesses’ ability to react to changing markets. Adobe needs something to bet on or their business may not be around in 10 years, let alone five,” Wang told TechCrunch.
“Let’s be honest, with Stabile Diffusion, Stability AI, Midjourney and DALL-E, the tools business could become commoditized. Ray Wang, founder and principal analyst at Constellation Research, believes that Adobe’s and Figma’s arguments are correct and goes as far to say that as we see the development of generative AI in the creative field, Adobe needs this deal to stay relevant. We look forward to continued conversations with regulators focused on the benefits a combined Adobe-Figma entity will bring.” Together, our complementary strengths have the potential to create tremendous value for consumers. Adobe is delivering industry-leading tools that empower people everywhere to express their creativity.
“Figma is reimagining product design and bringing the power of collaborative, web-based tools to teams around the globe. We continue to expect to close the transaction in 2023, in line with previously stated guidance.”įigma for its part simply mirrored the Adobe statement with one of its own. “We are engaged in constructive and cooperative discussions with regulators in the US, UK and EU among others. The company indicated it is continuing to work with the various regulatory bodies to bring the deal to fruition. Together, our vision will help enable millions of consumers to transform their productivity with creativity,” the company said. Adobe is a leader in the creative tools space, helping millions of users create amazing visual content. “Figma is a leader in interactive product design, focused on building a collaborative web platform. In a statement, Adobe took exception with the idea that the deal is anti-competitive, arguing that the two companies are looking at very different markets - creativity and collaboration. The U.K.’s competition arm is also looking closely at the proposed acquisition. This comes on the heels of the EU announcing plans earlier this month to review the deal on competition concerns. Bloomberg first reported the story yesterday afternoon. The Justice Department didn't immediately respond to a request for comment.The DOJ is reportedly getting ready to file suit to block the $20 billion Adobe-Figma deal announced last year on the grounds it is anti-competitive. The company said it's working with antitrust regulators on closing the deal sometime this year. It has a base level that's offered for free, but companies have to pay for Figma beyond lightweight use.Īdobe defended the deal, saying the two companies "focus on very different areas today." While Figma focuses on interactive product design related to building a collaborative web platform, Adobe's attention is on the creative tools space. Figma had been the strongest competitor for Adobe's own web design tool, Adobe XD.įigma lets people design the look of apps and websites and create prototypes that show how users will move through those sites and apps.
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The department's antitrust division is reportedly concerned that the merger would reduce options for professional designers.Īdobe touted Figma's widely used collaborative design tools when it announced its effort to acquire the San Francisco-based startup in September. The Justice Department is expected to file its lawsuit as soon as next month and has already met with representatives from Adobe, as is customary before it files a lawsuit, Bloomberg reported Thursday, citing anonymous sources with knowledge of the matter. The US Department of Justice is reportedly preparing an antitrust lawsuit to block Adobe's $20 billion takeover of web design platform Figma.
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