(Reuters) – The U.S. Justice Division is getting ready an antitrust lawsuit to dam software program maker Adobe Inc’s $20 billion bid for cloud-based designer platform Figma, Bloomberg Information reported on Thursday, citing individuals acquainted with the matter.
The lawsuit may come as early as subsequent month, Bloomberg reported.
Responding to the report, Adobe stated it and Figma had been in numerous product areas, with Figma specializing in interactive designs.
“We’re engaged in constructive and cooperative discussions with regulators within the US, UK and EU amongst others. We proceed to anticipate to shut the transaction in 2023,” the corporate stated in a press release.
The Justice Division declined remark.
Adobe shares edged decrease in buying and selling post-market buying and selling after the story got here out.
Adobe, which makes Photoshop, stated in September it could purchase Figma, with traders involved concerning the hefty price ticket.
(Reporting by Diane Bartz in Washington and Tiyashi Datta in Bengaluru; Enhancing by Shinjini Ganguli)
