The European Union has initiated an investigation into Adobe's planned acquisition of cloud-based design platform Figma, a deal reported to be worth as much as $20 billion.
The European Commission, the EU's executive arm, said on Monday it was concerned the merger could "reduce competition in the global markets for the supply of interactive product design software and digital asset creation tools."
In addition, the Commission confirmed its plans to determine whether the acquisition could harm Adobe's competitors by integrating Figma's design platform with Adobe's popular Creative Cloud suite. A decision from the EU is anticipated by December 14.
Margrethe Vestager, EU's Executive Vice-President in charge of competition policy, emphasized the importance of maintaining a diverse range of digital creative tools for users and businesses.
"Adobe and Figma are two leading providers of software for the creative community in the digital sphere. Many users and businesses rely on their digital design tools to excel in their work. With our in-depth investigation, we aim to ensure that users continue to have access to a wide pool of digital creative tools from which to choose," she said.
The potential acquisition was first made public nearly a year ago when it was revealed Adobe was in talks to purchase Figma. However, the news was met with concern by regulatory bodies around the world.
Three weeks ago, the United Kingdom's Competition and Markets Authority (CMA) also expressed worries about the impact of the acquisition on the industry's innovative landscape.
In a statement, the CMA confirmed starting a "phase two" investigation into Adobe’s proposed acquisition.
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