Adobe shares fell as a lot as 5% in prolonged buying and selling following a report that mentioned the U.S. Justice Division is planning a lawsuit to dam the corporate’s $20 billion acquisition of startup Figma.
A case may come as quickly as subsequent month, Bloomberg reported, citing an unnamed supply.
The deal, introduced in September, would assist Adobe spur quick progress to its portfolio and decide up expertise that might improve present packages within the Inventive Cloud bundle that companies and impartial designers use. Adobe has mentioned Figma would generate over $400 million in annualized recurring income in 2022.
Supply: https://www.cnbc.com/2023/02/23/adobe-stock-slips-on-report-saying-doj-plans-suit-to-block-figma-deal.html
As an investor, I feel this is perhaps excellent news. If acquisition is blocked, Adobe doesn’t need to spend $20 billion to amass Figma.
Is it good time to purchase? Ideas?
submitted by /u/Horanis [comments]
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