SAN JOSE (dpa-AFX) - The UK's Competition and Markets Authority or CMA said on Friday that it has decided to refer the proposed acquisition of Figma, Inc. by Adobe Inc. (ADBE) for a phase 2 probe.
The market regulator's decision follows its phase 1 investigation which found that the merger may result in a substantial lessening of competition in the UK.
Adobe is a supplier of creative design software, whereas Figma is a provider of all-in-one screen design software.
CMA believes that the proposed merger may result in the loss of competition in the supply of all-in-one screen design software and supply of creative design software.
On September 15, 2022, Adobe had announced a definitive merger deal to acquire Figma, for around $20 billion in cash and stock.
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