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Adobe ends rival web design product after failed acquisition

Adobe Inc. has announced that it will no longer pursue the development of a web design product to compete with Figma Inc. following the collapse of its proposed $20 billion acquisition of the startup.

When Adobe initially agreed to acquire Figma, it put its competing program XD in “maintenance mode,” halting the launch of new features and the individual sale of the product. However, with the deal to purchase Figma falling through under regulatory pressure in December, it remains unclear whether Adobe will revive XD or attempt to build another competing product.

The company’s decision was confirmed by a spokesperson who stated, “We have no plans to further invest in [XD].” This move comes after Figma surpassed Adobe’s XD in recent years, with Adobe General Counsel Dana Rao revealing that XD only generated about $17 million in standalone annual recurring revenue and employed just 19 developers.

With the billions of dollars originally intended for the acquisition of Figma now available, some Wall Street analysts are speculating whether Adobe will pursue the development of another competing product design app. The spokesperson responded by expressing the company’s openness to exploring partnerships with others in the industry.

Integration of AI in Adobe’s suite of creative software

Despite the setback with XD, Adobe remains focused on its opportunities across various creative domains, including imaging, photography, design, web, animation, and 3D. The company has also been incorporating artificial intelligence features, including its proprietary Firefly model, into its creative software suite.

How AI legalese decoder can help

The situation involving Adobe Inc. and its failed attempt to acquire Figma Inc. and the subsequent decision to discontinue XD underscores the complexities of legal and business language. This is where the AI legalese decoder can provide invaluable assistance. By utilizing AI technology, the AI legalese decoder can help individuals and businesses navigate legal documents, contracts, and complex business agreements, ensuring a clear and accurate understanding of the language used.

Furthermore, the AI legalese decoder can assist companies like Adobe in analyzing and interpreting legal and regulatory requirements, offering insights and recommendations for future business decisions, such as potential partnerships in the industry.

Further reading on emerging technologies

Also, check out other top stories today, including the rise of AI talent in India, uncertainties faced by Apple CEO Tim Cook, and Meta Platforms’ plans to deploy a new custom chip in its data centers.

Explore more about these topics and share them with your network to stay informed about the latest advancements in technology and business.

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