Adobe terminates Figma acquisition, pays $1B termination fee due to regulatory hurdles

ADOBE INC.

Mutual termination of merger agreement effective December 17, 2023; no clear path for regulatory approvals from EU and UK.
Adobe will make a cash payment of $1 billion (termination fee) to Figma within three business days.
Both companies disagree with regulatory findings but decided to walk away; no other claims are sought.
Figma and Adobe will continue independently; Adobe says it remains well positioned to capitalize on market opportunity.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ADOBE INC. terminated Merger Agreement with Figma, Inc. valued at one billion dollars ($1,000,000,000) (effective 2023-12-17).

Action: termination
Agreement: merger
Counterparty: Figma, Inc.
Value: one billion dollars ($1,000,000,000)
Effective: 2023-12-17

Exact text from the filing

On December 17, 2023, the Company and Figma mutually agreed to terminate the Merger Agreement and entered into a mutual termination agreement effective as of such date (the “Termination Agreement”).

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ADOBE INC. filing history →

Source: SEC EDGAR

accession 0000796343-23-000254

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