Blocking Adobe’s Acquisition of Figma
Leah Nylen et al. (Hacker News):
The Justice Department is preparing an antitrust lawsuit seeking to block Adobe Inc.’s $20 billion acquisition of startup Figma Inc., people familiar with the matter said.
[…]
The deal also faces an antitrust review in the European Union after the bloc’s antitrust watchdog said it had received requests from national regulators to look into the deal. The UK Competition and Markets Authority is reviewing the merger as well, and the three jurisdictions often coordinate on their investigations.
The antitrust division, which has taken a more aggressive approach to mergers under President Joe Biden, is concerned the deal — one of the largest takeovers of a private software maker — would reduce options for design software used by creative professionals.
Adobe told us it expects the sale to stand up.
Previously:
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"Adobe told us it expects the sale to stand up."
Given the failures of antitrust measures in the last decades (e.g. Ticketmaster/Live Nation merger, Facebook's acquisition of WhatsApp and Instagram, all of the drug manufacturer price fixing, or even the Aldus/Adobe merger back in the day), that's probably true, but it really sucks. It's pretty absurd that we're allowing more and more areas of our lives to be controlled by monopolies.
Just read that the price of insulin in the us is coming down, and that the current chair of the FTC is partly to laude for that. There is hope. At least they're trying to get some stuff done.
Fingers crossed they'll stop this. I love Figma