In an interview with Nilay Patel on Decoder, Adobe general counsel Dana Rao says that the company couldn’t prove to European regulators that its now-scuttled Figma acquisition wouldn’t harm future competition.
Adobe just abandoned its $20 billion deal to buy Figma, and now we know why. In an interview on the Decoder podcast with The Verge editor-in-chief Nilay Patel, Adobe general counsel Dana Rao said that the company couldn’t prove to European regulators that the acquisition wouldn’t harm competition in the future — that is, that Adobe or Figma wouldn’t eventually do more to compete with one another. Last month, both EU and UK regulators threw up major flags about the competition issue.
Adobe felt that there wasn’t “any overlap between” customers of the two companies and that there were “no competitor or customer complaints about the deal,” according to Rao. The issue arose when it came to competing down the road. Rao said that regulators had “been very focused” on newer doctrines of antitrust law that “say that future competition is a critical part of the antitrust analysis.
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