Adobe Inc.’s planned $20 billion purchase of design software maker Figma Inc. faces an in-depth probe from the UK antitrust watchdog amid concerns the deal could stifle innovation and customer choice.
13th July 2023 07:32 PM 
Britain's antitrust regulator on Thursday announced an in-depth probe of Adobe's $20 billion bid for cloud-based designer platform Figma, after the Photoshop owner said it would not offer any remedies to ease the regulator's concerns.
The Competition and Markets Authority (CMA) said late last month it had found the deal could lead to less choice for designers of digital apps, websites and other products, and identified concerns in the supply of screen design software, where the companies compete.
The CMA said on Thursday that It had given Adobe five working days to submit proposals to address its concerns. But on July 7, the U.S. company told the CMA it would not offer any remedies.
An in-depth, or phase two, probe by the CMA is conducted by an inquiry group selected from independent experts. The CMA has until Dec. 27 to conclude its investigation.
Figma's web-based collaborative platform for designs and brainstorming is hugely popular among tech firms including Zoom Video Communications, Airbnb and Coinbase.
Adobe announced a cash-and-stock deal for Figma in September. It has said it expects to close the deal by end of this year, as U.S. and EU regulators also probe the deal. EU antitrust regulators will decide by Aug. 7 whether to clear the acquisition.
