: U.K. regulator says Adobe’s $20 billion acquisition of Figma could reduce innovation

Adobe’s ADBE $20 billion planned purchase of Figma could reduce innovation, the U.K. Competition and Markets Authority said Friday. The regulator said that Figma has established a substantial share of the market for screen design software and that Adobe has been continuously investing in and competing in this segment. It added that competition between Figma and Adobe has driven investment in updating and developing screen design software, and this important rivalry could be lost if the deal goes ahead. The regulator said it’s giving five working days to submit proposals to address its concerns, or otherwise it will proceed to an in-depth phase 2 review.

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