BRUSSELS (Reuters) – European Union antitrust regulators’ investigation into Photoshop maker Adobe’s $20 billion bid for cloud-based designer platform Figma has been put on hold while they wait for requested information from the companies.
The European Commission said it stopped the clock effective Sept. 19 and will set a new deadline once the companies provide the data.
“This procedure in merger investigations is activated if the parties fail to provide, in a timely fashion, an important piece of information that the Commission has requested from them,” the EU competition watchdog said.
The previous deadline was Jan. 8.
The Commission has previously voiced concerns that the deal may remove an important rival to Adobe and allow it to restrict competition in global markets for the supply of interactive product design tools.
(Reporting by Foo Yun Chee; Editing by Sharon Singleton)
Credit: The Star : Tech Feed
