After the announcement last year, Adobe will not be acquiring Figma anymore.
It has been announced that last Monday, Figma and Adobe have mutually terminated their merger agreement. Adobe was supposed to acquire Figma and their platform for USD 20 billion.
“Adobe and Figma strongly disagree with the recent regulatory findings, but we believe it is in our respective best interests to move forward independently,” said Shantanu Narayen, CEO and chair of Adobe, “While Adobe and Figma shared a vision to jointly redefine the future of creativity and productivity, we continue to be well positioned to capitalize on our massive market opportunity and mission to change the world through personalized digital experiences.”
“It’s not the outcome we had hoped for. But despite thousands of hours spent with regulators around the world detailing differences between our businesses, our products, and the markets we serve, we no longer see a path toward regulatory approval of the deal,” said CEO of Figma Dylan Field.
YugaTech.com is the largest and longest-running technology site in the Philippines. Originally established in October 2002, the site was transformed into a full-fledged technology platform in 2005.
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