Figma: Firm’s boss defends Adobe takeover as CMA probes £16bn deal
The boss of Figma has sought to defend Adobe’s takeover of the design platform as the UK’s Competition and Markets Authority (CMA) probes the deal.
Adobe in September announced plans to acquire Figma, which offers design tools for web and app developers, for approximately £16bn.
The CMA’s preliminary probe into the deal found that competition between Figma and Adobe’s screen design software could disappear if the takeover went ahead, resulting in a hike in prices for consumers and hurting innovation int he market.
But Figma’s boss has spoken out to defend the takeover.
Speaking to The Times, Dylan Field said that the CMA had misjusdged the size of the market it was trying to assess in calling in the deal for an investigation.
“We have a difference of opinion with the CMA about how to define the market,” he said.
Field said that while the regulator believed the market to be about design, “[design] is just one small part of this overall journey that goes from an idea in your head to an app on your phone,” while refuting the CMA’s assessment about the number of players currently in the market.
A decision on the Figma and Adobe tie-up is expected towards the end of December.
Field’s comments come not long after Microsoft hit out at the CMA over its decision to block its $69bn takeover of Activision.
However, the UK’s competition watchdog has said Microsoft’s recently revised offer to buy Activision now “opens the door” to the deal being cleared.