Adobe will need EU okay to acquire Figma, regulators say

FILE PHOTO: A logo of Adobe Inc. is pictured at the company's office in Citywest Business Campus, Saggart, Ireland October 19, 2021. Picture taken October 19, 2021. REUTERS/ Tom Bergin

(Reuters) -Adobe Inc will need to secure European Union antitrust approval for its $20 billion bid for cloud-based designer platform Figma even though the deal falls short of the EU turnover threshold for a review, EU regulators said on Wednesday.

The move by the European Commission underlines regulators' worries on Big Tech acquiring smaller innovative rivals and the impact on competition.