Adobe has abandoned its $20 billion deal to acquire cloud-based designer platform Figma, citing challenges in obtaining antitrust approvals in Europe and the UK. The deal, facing regulatory scrutiny, drew concerns about Big Tech acquisitions impacting market competition. Adobe will pay a $1 billion termination fee to Figma, known for its web-based collaborative design platform used by companies like Uber and Coinbase. Figma, with plans to grow annual recurring revenue by 40% to over $600 million, has seen increased adoption and cash flow positivity. UK's Competition and Markets Authority expressed concerns about the deal's impact on innovation for UK digital designers, and recent indications from UK regulators suggested remedies for Adobe to divest Figma. Adobe disagreed with regulatory findings but opted to move forward independently. The termination highlights challenges startups may face with increased M&A scrutiny.