A little over a year ago, Adobe announced that they were acquiring Figma, We snickered a bit about their statement that this would “usher in a new era of collaborative creativity”.
Alas, the new era is now canceled.
Adobe announced today that they’re calling off the acquisition:
Although both companies continue to believe in the merits and procompetitive benefits of the combination, Adobe and Figma mutually agreed to terminate the transaction based on a joint assessment that there is no clear path to receive necessary regulatory approvals from the European Commission and the UK Competition and Markets Authority.
And note this:
The companies have signed a termination agreement that resolves all outstanding matters from the transaction, including Adobe paying Figma the previously agreed upon termination fee.
That fee is a cool $1 billion. For a company whose revenue is about $17-18 billion a year with a profit around $5 billion, that’s a quite a hit.
Related Posts:
I also enjoy using LEBs! I have an empire of little guys for VPNs, larger guys for apps, and big guys for databases and storage. When I'm not in front a screen I'm into German Shepherd dogs, quality knives, target shooting, theology, tabletop roleplaying games, and forest hiking.
I enjoy writing technical articles here on LowEndBox to help people get more out of their systems. You can find me on LowEndTalk @raindog308
- DediRock Obliterates Price Points! Under $11/Year for a VPS in New York or Los Angeles! - March 19, 2025
- New Spy Thriller!Two HR Companies Square Off in Shocking Corporate Espionage Battle - March 18, 2025
- LAST CHANCE on Lifetime Pricing: CraneMail Lifetime Plans Go Up In Price Starting April 1st, 2025 - March 17, 2025
Leave a Reply