Adobe abandons $20 billion acquisition of Figma

sanqueue@lemmy.world to Technology@lemmy.world – 269 points –
Adobe abandons $20 billion acquisition of Figma
theverge.com
23

Figma balls lmao gottem

Could somebody explain this "figma balls" joke? There are no entries on urban dictionary.

It comes from "Ligma balls".

The word Ligma sounds like a disease, so you would say something like "it seems like he has Ligma" and bait someone into saying "Ligma?" or "What's Ligma?" at which point you say "Ligma balls"

You can add "LMAO GOTTEM" at the end for extra punch

Aha. Sort of works for Ligma. Unless I'm too old for these jokes, it makes no sense to me whatsoever for Figma.

Figma resembles the word ligma. Figma on its own does not work.

We're several layers deep into the meme

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.

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.

Ah, headline should of read then "You Won't Believe How Big Government Steps In And Crushes This Person's* Freedom"

*Person refers to Adobe, see laws and regulations of the United States

This is good news! It was looking like Figma would be killed off.

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.

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

They 100% will revive it. They only removed it because they were confident to buy Figma.

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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...


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