Adobe Inc.’s $20 billion takeover of design software company Figma Inc. faces a merger review by European Union officials as global regulators continue to scrutinize record-breaking deals in the digital economy.
The European Commission said in a website filing that it set a provisional deadline of Aug. 7 to decide whether to open an in-depth probe into the acquisition or to clear it. The Commission’s website, updated on Monday, said that the deal – Adobe’s largest ever – was notified on June 30.
The deal will give American software player Adobe control of world-leading web design platform Figma, in a move described by Adobe chair and chief executive officer Shantanu Narayen as “transformational.” Some of Figma’s competitors include services provided by Adobe, including their Premiere Pro CC and XD products.
Read the full story on Bloomberg here.