470
Adobe abandons $20 billion acquisition of Figma
(www.theverge.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 18 Dec 2023
470 points (98.4% liked)
Technology
59583 readers
2417 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
This is the best summary I could come up with:
Following mounting pressure from regulators in the UK and EU, Adobe and Figma announced on Monday that both companies are mutually terminating their merger agreement, which would have seen Adobe acquire the Figma product design platform for $20 billion.
As a result of the termination, Adobe will be required to pay Figma a reverse termination fee of $1 billion in cash.
“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 Adobe chair and CEO Shantanu Narayen in a statement.
“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.”
Developing...
The original article contains 135 words, the summary contains 135 words. Saved 0%. I'm a bot and I'm open source!