NEW YORK: Adobe shelves its US$20bil deal for cloud-based designer platform Figma, pointing to “no clear path” for antitrust approval in Europe and the United Kingdom for what would have been among the biggest buyouts of a software startup.
The cash-and-stock deal, announced in September last year, was the latest to draw tough scrutiny from regulators worried about Big Tech acquisitions that boost the market power of dominant companies or involve startups seen as nascent rivals.
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