European Union: Announced European Commission initial assessment into proposed acquisition of Figma by Adobe

On 15 February, the European Commission announced it would assess under the EU Merger Regulation the proposed acquisition of Figma by Adobe, following the acceptance of the referral from the Federal Competition Authority of Austria and supported by another 15 Member States' competition authorities. The acquisition did not meet the minimum turnover thresholds set by the EU Merger Regulation (EUMR) for compulsory notification, and the Commission accepted to assess the merger following the request from the national authorities. The company Figma provides web-based collaborative tools for designing products, and Adobe offers software, including product design software such as Adobe XD. The Commission, in its investigation, will determine whether the acquisition would negatively affect the competition in the product design software market. The transaction cannot be valid before the companies obtain approval from the Commission.