(CercleFinance.com) – The European Commission announces that it has accepted requests submitted by several countries of the European Economic Area (EEA) relating to the planned acquisition of Figma by Adobe, both Americans, under the EU Regulation on concentrations.
Figma is a company that offers an online collaborative tool for product design, Figma Design, while Adobe is a global software company.
The proposed transaction had not been notified to the Commission as it fell short of the turnover thresholds set by the EU Merger Regulation. By contrast, the transaction has been notified for regulatory clearance in Austria and Germany, where it has met national notification thresholds.
Austria then submitted a referral request to the Commission, considering that this concentration operation was capable of affecting trade and competition within the single market.
Subsequently, Belgium, Bulgaria, Cyprus, Czechia, Denmark, Finland, France, Germany, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway and Sweden then joined Austria’s request for referral.
After studying the information provided by the reference countries, the Commission considers that the referral request is well founded insofar as the transaction threatens to significantly affect competition in the market for the design of interactive products and whiteboard, which probably extends at least to the EEA and, therefore, in the reference countries.
The Commission also concluded that it was best placed to examine the potential cross-border effects of the operation.
The Commission will now ask Adobe to notify the operation. Adobe cannot implement the transaction until it has notified and obtained clearance from the Commission.
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