UK extends deadline on in-depth probe into Adobe's $20 billion deal for Figma

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 66%

Singapore Headlines News

Singapore Latest News,Singapore Headlines

Britain's competition regulator, on Wednesday, extended by eight weeks the deadline to complete its in-depth probe into Photoshop owner Adobe Inc's $20 billion buyout of cloud-based designer platform Figma, to February 2024.

In July, the Competition and Markets Authority launched an in-depth, or phase two, investigation into the deal after Adobe said it would not offer any concessions to ease the regulator's concerns.

The CMA said the companies have made a number of detailed arguments related to its concerns around competition in product developments between the firms, their growth strategies and how it would impact their ability to expand into new markets.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in SG

Singapore Latest News, Singapore Headlines