Adobe, Figma deal officially under in-depth review by EU antitrust regulators
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Adobe's (NASDAQ:ADBE) proposed deal to acquire design platform for $20B is officially under an in-depth review by antitrust regulators in Europe, the European Commission said on Monday. 
"The Commission is concerned that the transaction may reduce competition in the global markets for the supply of interactive product design software and for digital asset creation tools," the EC said in a statement.
Issues of concern for the European Commission are that Figma is the clear market leader for interactive product design tools and given that Adobe (ADBE) is one of its largest competitors, the deal could remove an "important competitive force," as well as the fact that it could impact other players in the market.
Other issues include the elimination of Figma's influence on Adobe's (ADBE) tools and preventing Figma's growth into an "effective" Adobe competitor.
The European Commission added that it has has 90 working days, until December 14, to make a decision on the proposed merger.
Last month, it was reported that Adobe (ADBE) was likely facing an in-depth review from the European Union's antitrust regulator after the San Jose, California-based Adobe (ADBE) reportedly would not offer remedies to address the agency's concerns.
It was reported in June that Adobe (ADBE) was likely to face an in-depth review and deal with a more detailed phase 2 probe from the European Commission.
Adobe (ADBE) shares fell 0.5% in early trading on Monday.
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