---
schema_version: "secwatch.filing_event.v1"
accession: "0000796343-23-000254"
form_type: "8-K"
ticker: "ADBE"
cik: "0000796343"
company_name: "ADOBE INC."
filed_at: "2023-12-18T23:59:59+00:00"
generated_at: "2026-06-07T11:33:19.825013+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000796343-23-000254
- form_type: 8-K
- ticker: ADBE
- cik: 0000796343
- company_name: ADOBE INC.
- filed_at: 2023-12-18T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/796343/000079634323000254/0000796343-23-000254-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/796343/000079634323000254/adbe-20231217.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000796343-23-000254
- JSON: https://secwatch.observer/filing/0000796343-23-000254.json
- Plain text: https://secwatch.observer/filing/0000796343-23-000254.txt

## Key facts
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/796343/000079634323000254/0000796343-23-000254-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.