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in Tech

Adobe slips on report saying DOJ plans suit to block $20 billion Figma deal

by Editor February 23, 2023, 11:09 pm 1.7k Views

Adobe slips on report saying DOJ plans suit to block $20 billion Figma deal

Adobe CEO Shantanu Narayen

Mark Neuling | CNBC

Adobe shares fell as much as 5% in extended trading following a report that said the U.S. Justice Department is planning a lawsuit to block the company’s $20 billion acquisition of startup Figma.

A case could come as soon as next month,

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reported, citing an unnamed source.

The deal, announced in September, would help Adobe spur fast growth to its portfolio and pick up technology that could…

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