Adobe's given up trying to purchase popular design app Figma. Adobe said that there's "no clear path to receive necessary regulatory approvals" as the UK and EU both considered Adobe's purchase of Figma will significantly reduce competition and "lead to higher prices, reduced quality or less choice for customers". Adobe now has to pay Figma US$1b as a result of the failed acquisition, which is nice, I guess, but Figma's CEO really wanted to deal to go ahead, telling the Financial Times last week "it is important that those paths of acquisition remain available because very few companies make it all the way to IPO. So many companies fail on the way", obviously thinking that Figma wouldn't do too well if did decided to go public - aka, our investors want an exit and besides an acquisition, there's not much else we can do.
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