San Jose, California – Adobe Inc. and Figma, a design software company, have made the mutual decision to terminate their merger agreement, which was worth $20 billion. This decision comes after facing regulatory pushback from authorities.

The two companies had initially announced the acquisition deal in hopes of further advancing their capabilities in the design software industry. However, the deal faced challenges from regulators which ultimately led to the decision to call off the merger.

According to sources, the termination of the deal comes after a clash with regulators, highlighting the challenges that companies face in navigating regulatory requirements for large-scale mergers.

The cancellation of the multi-billion dollar deal marks a significant shift in the design software industry and the strategic plans of both Adobe and Figma. The decision to terminate the merger agreement will undoubtedly have ripple effects across the industry, impacting the competitive landscape and future business strategies for both companies.

In summary, Adobe and Figma have mutually agreed to terminate their $20 billion merger agreement after facing a regulatory clash, signaling a significant shift in the design software industry. This decision will undoubtedly have a far-reaching impact on the strategic plans and competitive landscape of both companies moving forward.