Adobe Scraps $20 Billion Figma Acquisition

On Dec. 18, both companies announced that they are mutually terminating the deal following pressure from regulators in Britain and the EU. According to regulators, Adobe already has a near-monopoly in the world of design software, and purchasing Figma "would harm innovation," The Verge reports. The Competition and Markets Authority (CMA) wanted Adobe to "restore the conditions of competition" by adhering to certain remedies it deemed necessary.