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US To Block Adobe And Figma $90B Deal

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The U.S. Justice Department is preparing an antitrust lawsuit to block Adobe's $20 billion bid for cloud-based designer platform Figma.

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The lawsuit could come as early as next month.

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Adobe's acquisition of Figma has raised concerns among investors due to the hefty price tag.

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Adobe and Figma are in different product areas, with Figma focusing on interactive designs.

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Adobe has stated that it is engaged in constructive and cooperative discussions with regulators in the US, UK, and EU.

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Adobe expects to close the transaction in 2023.

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The Justice Department declined to comment on the matter.

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Adobe shares edged lower in post-market trading after the news broke.

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The antitrust lawsuit suggests that the Justice Department may believe the acquisition could harm competition in the industry.

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The outcome of the lawsuit could have significant implications for the future of the design software industry.

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