UK regulator says Adobe's $20 billion Figma deal could harm sector

FILE PHOTO: Adobe logo is seen on smartphone in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -Britain's competition regulator said on Tuesday Photoshop owner Adobe's $20 billion buyout of cloud-based designer platform Figma could harm innovation for software used by the vast majority of UK digital designers.

The deal would eliminate competition and remove Figma as a threat to Adobe's flagship Photoshop and Illustrator products, according to findings from an in-depth probe that the Competition and Markets Authority (CMA) launched in July, after Adobe refused to offer concessions to ease its concerns.