Figma will receive a $1 billion fee.
  • Uglyhead@lemmy.worldEnglish
    722·
    7 months ago

    Good!

    Adobe has ruined all they touch since way back. Most notoriously with Macromedia Flash acquisition and enshittification.

    • Ensign_Crab@lemmy.worldEnglish
      15·
      7 months ago

      I remember the guy Adobe put in charge of the Flash plugin on Linux whining in official public facing communication about how difficult it was to work with “minority browsers,” which he clarified to mean everything but Internet Explorer 6 running on Windows.

    • SkippingRelax@lemmy.worldEnglish
      62·
      7 months ago

      Is anyone really missing flash? as much as I hate Adobe like the next guy, the internet is a better place without that proprietary crap infesting most websites for no good reason other than a cheap animation

      • JonnyJ@lemmy.worldEnglish
        4·
        7 months ago

        I don’t miss Flash, but it’s hard to deny that back in the day, it was nice to have a tool that rendered content universally for web browsers. It was also fun to make shit in. 100% obviously we’re better off without relying on some proprietary software to render interactive components etc, but it did serve a purpose and give us a blueprint for what the web should, and often times should NOT be.

        But, Fireworks(also part of macromedia) was a fucking fantastic program and was lightyears ahead of its time. Adobe murdering it spawned Sketch, which spawned Figma. So the irony and dread of Adobe buying Figma was never once lost on me.

        I rely on these tools every workign day of my life, and fuck adobe for fucking with my workflow

  • simple@lemm.eeEnglish
    22·
    7 months ago

    Awesome news. Bless the regulators fighting back.

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

    This does bring a smile to my face. Maybe companies will actually stop trying to mass acquire everything when there are risks involved.

    • LifeInMultipleChoice@lemmy.worldEnglish
      2·
      7 months ago

      Or just write contracts that put the fall through on the smaller company that fails acquisition. (Seems more likely) Sucks, but many business acts do now

    • echo64@lemmy.worldEnglish
      361·
      7 months ago

      pretty sure that’s what adobe wanted to charge me for wanting to cancel Creative Cloud

  • TheGrandNagus@lemmy.worldEnglish
    18·
    7 months ago

    In a letter dated December 14th, Adobe rejected remedies suggested by the UK’s Competition and Markets Authority (CMA) to approve the merger following an in-depth antitrust probe. The authority wanted Adobe to make a significant divestment of assets, source code, and engineers to “restore the conditions of competition.” All parties were expected to discuss the CMA’s provisional decision to block the deal on December 21st, with a final deadline to approve or block the acquisition set for February 25th.

    Based CMA

    • Kemwer@lemmy.worldEnglish
      2·
      7 months ago

      I really hope that PenPot can catch up with Figma, it’s a decent alternative. But until at the very least they can offer better tools for components like variants and custom properties, there is just no way for anyone working professionally with Figma to switch.

  • Lemminary@lemmy.worldEnglish
    7·
    7 months ago

    Good news! It was already heading in a shitty direction with the new chances that they overly hyped and then put behind their shitty Adobe subscription model. Old Figma would let you use it and master it before you bought it and it was successful.

  • AutoTL;DR@lemmings.worldBEnglish
    61·
    7 months 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!

  • leaky_shower_thought@feddit.nlEnglish
    1·
    7 months ago

    good call for CMA.

    I would think what’s going to happen there is Adobe will acquire figma and either keep the IP so their CS product will get the monopoly.

    Ooorrr~ keep the brand but also get the monopoly.