Adobe has now announced that they and Figma have agreed to cancel the planned takeover that was announced in 2022, after seeing various constraints and obstacles in the takeover process, especially in Europe.
Previously, Adobe had offered to take over Figma at a value of $20 billion (~RM90 billion).
Since the announcement of the takeover, several parties have expressed the impact on competition and the creative market itself as a result of this takeover by Adobe.
Regardless, with today's joint announcement, perhaps we'll see both companies remain competitive moving forward separately. And maybe we'll see Adobe XD continue and not just end.
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BUSINESS & MONEY