So, Adobe and Figma had this big plan for a $20 billion merger, but guess what? It’s off. Why? Well, they hit a wall trying to get the thumbs up from regulators in the UK and the EU. The snag led to an agreement where Adobe has to hand over a cool $1 billion as a termination fee to Figma.
It all started in November when the UK’s Competition and Markets Authority (CMA) and the European Commission got antsy about the potential impact on competition. The CMA even hinted at blocking the deal or making Adobe sell off Figma’s main product. Ouch.
