Figma will receive a $1 billion fee.
    • Ghostalmedia@lemmy.worldEnglish
      24·
      1 year ago

      If anything, Adobe XD would get the axe, not Figma. Figma is the industry leading design software for UX work. No way that would get killed.

      • imaBEES@lemmy.worldEnglish
        28·
        1 year ago

        Adobe had already announced that they were sunsetting XD with the announcement of their Figma aquisition, as Figma is much more successful and filled the same space. I guess now the question is whether they decide to reverse course and revive XD now that they won’t be getting Figma

  • yamanii@lemmy.worldEnglish
    46·
    1 year ago

    Headline should reflect that it’s because of regulators, Adobe for sure would like to be a monopoly. Second time we were saved since Nvidia buying Arm got canceled.

    • Ghostalmedia@lemmy.worldEnglish
      10·
      1 year ago

      Well, specifically, a market monopoly for UX design tools. They already have a pretty strong stranglehold over other creative disciplines. Illustration, photography, graphic design, print publishing, etc.

      Like UX, there are lots of smaller alternatives, but Adobe’s apps dominate the pro space.

  • Ghostalmedia@lemmy.worldEnglish
    13·
    1 year ago

    So, does the Adobe XD team hang around now? Adobe was signaling that XD was going to get axed for Figma.

  • tsonfeir@lemm.eeEnglish
    9·
    1 year ago

    It’s too bad companies don’t open source axed projects. I’m not an adobe fan nowadays but I really liked XD.

  • AutoTL;DR@lemmings.worldBEnglish
    8·
    1 year ago

    This is the best summary I could come up with:

    Following mounting pressure from regulators in the UK and EU, Adobe and Figma announced on Monday that both companies are mutually terminating their merger agreement, which would have seen Adobe acquire the Figma product design platform for $20 billion.

    As a result of the termination, Adobe will be required to pay Figma a reverse termination fee of $1 billion in cash.

    “Adobe and Figma strongly disagree with the recent regulatory findings, but we believe it is in our respective best interests to move forward independently,” said Adobe chair and CEO Shantanu Narayen in a statement.

    “While Adobe and Figma shared a vision to jointly redefine the future of creativity and productivity, we continue to be well positioned to capitalize on our massive market opportunity and mission to change the world through personalized digital experiences.”

    Developing…

    The original article contains 135 words, the summary contains 135 words. Saved 0%. I’m a bot and I’m open source!