By Giulia Petroni

 

The European Union's competition watchdog issued a statement of objections against Adobe's proposed $20 billion acquisition of Figma, saying the deal could reduce fair competition in the market of interactive product design and other creative design software.

The European Commission, the EU's executive body, said late on Friday that the acquisition could significantly imperil competition for the supply of interactive product design tools and of vector and raster editing tools.

"Adobe now has the opportunity to reply to the Commission's statement of objections, to consult the Commission's case file and to request an oral hearing," according to the authority.

An in-depth investigation to assess Adobe's proposed acquisition of the collaborative-design platform was opened in August. The U.K.'s Competition and Markets Authority is also conducting an in-depth probe into the deal.

Figma said it is carefully reviewing the Commission's statement of objections. "We feel confident in our ability to resolve regulators' concerns and will continue to engage in constructive conversations focused on the benefits this deal will create for consumers and Europe's innovation economy," a spokesperson for the company said.

Adobe wasn't immediately available for comment when contacted by Dow Jones Newswires.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

November 20, 2023 03:31 ET (08:31 GMT)

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