Adobe / Figma merger inquiry
Summary
The Competition and Markets Authority (CMA) case page for its Adobe / Figma merger inquiry into the anticipated acquisition by Adobe Inc. of Figma, Inc., published 3 May 2023 and last updated 19 December 2023, with case state Closed and outcome Mergers - phase 2 cancellation. The page's timeline records the launch of the inquiry on 3 May 2023, the phase 1 decision of 30 June 2023, the reference for an in-depth investigation and appointment of the inquiry group on 13 July 2023, provisional findings and a notice of possible remedies on 28 November 2023, and the cancellation of the merger reference after the merger was abandoned on 18 December 2023. The inquiry group was Margot Daly (Chair), Cyrus Mehta, Humphrey Battcock and David Thomas; the statutory deadline had been 25 February 2024, and the inquiry was conducted under the Enterprise Act 2002.
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Full text
Adobe / Figma merger inquiry The CMA investigated the anticipated acquisition by Adobe Inc. of Figma, Inc. Updates to this page From: Competition and Markets Authority Published: 3 May 2023 Last updated: 19 December 2023 Show all updates 19 December 2023 Cancellation of merger reference published. 18 December 2023 Responses to provisional findings and possible remedies published. 30 November 2023 Full provisional findings report, appendices and glossary published 28 November 2023 Summary, notice of possible remedies, and provisional findings published 25 October 2023 Statutory deadline and administrative timetable updated with notice of extension published 28 September 2023 Parties’ joint response and evidence published 21 August 2023 Notice of termination of extension published 17 August 2023 Notice of extension of inquiry period 7 August 2023 Full text of the phase 1 decision published. 26 July 2023 Issue statement published. 21 July 2023 Administrative timetable published. 13 July 2023 Inquiry group appointed 13 July 2023 Decision to refer and Terms of reference published. 30 June 2023 Phase 1 decision published 3 May 2023 First published. Case type: Mergers Case state: Closed Market sector: Electronics Outcome: Mergers - phase 2 cancellation Opened: 3 May 2023 Closed: 19 December 2023 Phase 2 Administrative timetable Date of referral: 13 July 2023 Statutory deadline: 25 February 2024 Contact general.enquiries@cma.gov.uk Merger abandoned 18 December 2023: The CMA has cancelled its merger inquiry into the anticipated acquisition by Adobe Inc. of Figma, Inc. Responses to provisional findings and possible remedies Provisional findings 28 November 2023: The CMA has provisionally found competition concerns as part of its in-depth investigation of the anticipated acquisition by Adobe Inc. of Figma, Inc. The deadline for submitting responses to the provisional findings is Tuesday 19 December 2023. The deadline for submitting responses to the notice of possible remedies is Tuesday 12 December 2023. Notice of extension of statutory period Notice of extension of inquiry period Responses to the issues statement Issues statement 26 July 2023: The issues statement sets out the scope of the inquiry. It outlines initial theories on what might be adversely affecting competition, but it does not set out findings or conclusions. Inquiry group appointed 13 July 2023: The CMA has appointed the inquiry group. Margot Daly (Chair), Cyrus Mehta , Humphrey Battcock and David Thomas . Terms of reference 13 July 2023: The CMA has referred the anticipated acquisition by Adobe Inc. of Figma, Inc. for an in-depth investigation. Phase 1 Statutory timetable Date | Action 30 June 2023 | Decision announced 3 May 2023 to 18 May 2023 | Invitation to comment 3 May 2023 | Launch of merger inquiry Reference decision 13 July 2023: The CMA has referred the anticipated acquisition by Adobe Inc. of Figma, Inc. for an in-depth investigation, on the basis that, on the information currently available to it, it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. Reference unless undertakings accepted 30 June 2023: The CMA has decided, on the information currently available to it, that it is or may be the case that this merger may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom. This merger will be referred for a phase 2 investigation unless the parties offer acceptable undertakings to address these competition concerns. Launch of merger inquiry 3 May 2023: The CMA announced the launch of its merger inquiry by notice to the parties. Invitation to comment: closed 3 May 2023: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services. To assist it with this assessment, the CMA invites comments on the transaction from any interested party. These comments should be provided by the deadline set out above. Contents
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