Adobe is required to pay Figma $1 billion if the transaction fails to get regulatory clearance, or if the deal fails to close within 18 months from September 15, 2022, according to a"Despite the length of the process, we continue to be confident in the underlying facts that support the deal and we look forward to its ultimate approval by the regulatory agencies," Rao wrote in the email.
Rao also urged employees to be responsible when mentioning the proposed Figma deal in and out of the company, and to"minimize written commentary about the deal that could be taken out of context or misinterpreted." And in October, shortly after the proposed Figma acquisition was announced, Adobe's deputy general counsel Andrew Savage wrote to employees that the deal was not closed and that it was"working towards a 2023 close."
"Our customers, partners, and industry analysts are excited about this deal, and I know each of you are excited too!" Rao wrote.In September, Adobe announced our intent to acquire Figma, a leading web-first collaborative product design platform.