Figma and Adobe's $20B breakup

Welcome, Tech enthusiasts.

After a $20B agreement and 15 months of review, the major merger between Figma and Adobe is officially over.

With regulatory concerns driving the breakup, the scrapped acquisition highlights another (expensive) example of antitrust efforts crushing big tech’s consolidation efforts. Let’s explore…

In today’s tech rundown:

• Figma and Adobe’s $20B breakup

• Apple Watch sales halted amid patent battle

• 8 new products

• Tesla removes Disney+ app over Musk, Iger feud

• TikTok rolls out new viewing experience for tablets, foldables

• Acura opens reservations for first all-electric SUV

Read time: 3 minutes

TODAY’S HEADLINES

FIGMA

🎨 Figma’s $20B merger with Adobe breaks down

The Rundown: Figma and Adobe have jointly decided to cancel their previously proposed merger, with the decision coming after a 15-month-long regulatory review process.

The details:

• The merger originally planned to unite Figma's innovative design tools with Adobe's extensive suite.

• Throughout the review process, both Figma and Adobe engaged in extensive discussions with regulators globally.

• Figma continues to thrive independently and has introduced new products like native AI features, Dev Mode, Variables, and Advanced Prototyping.

• As a result of the termination, Adobe will pay Figma a reverse termination fee of $1 billion in cash.

Our thoughts: While the merger's cancellation might seem like a setback for Figma and Adobe, it also presents an opportunity for Figma to continue its journey as an independent entity. And designers are probably rejoicing at not having to pay Adobe Studio's ridiculous subscription fees every month.

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APPLE

⌚️ Apple Watch sales halted amid patent battle

The Rundown: Apple will pause online and retail sales of new Apple Watch models (the Apple Watch Ultra 2 and Apple Watch Series 9) starting Thursday, after losing a monumental case.

The details:

• Medical device firm Masimo sued Apple over alleged executive poaching and IP theft, with the case resulting in an import ban requiring Apple to stop sales post-Christmas.

• Apple asked President Biden to overturn the ITC ruling — but with licensing talks inactive, devices incorporating blood oxygen detection face an uncertain future.

• Masimo's CEO offered to sell its FDA-cleared pulse oximetry chip to Apple, willing to work on a licensed solution if the company won't use its hardware.

• With Apple Watch sales approaching $20B annually, the case may impact access to new health-tracking features as legal options narrow.

The relevance: If you were in the market for a new Apple Watch model this holiday season, they may be a bit harder to come by. But given Apple’s extensive reach and deep pockets, expect a resolution here sooner rather than later.

NEW PRODUCTS

🐇 CodeRabbit- AI-powered code reviewer that provides context-aware feedback, line-by-line code suggestions, and real-time chat that gets smarter with usage (link)*

🌌 Image Pipeline- Seamlessly integrates multiple stable diffusion models for image processing (link)

✍️ CopyNinja- Generates SEO-friendly product descriptions for Shopify stores (link)

🔍 Pixplain by Merlin AI- Transform screenshots into actionable insights with a single click using GPT-4 vision (link)

⚡ THERAi- Elevate your experience with an AI that learns and evolves with you (link)

👩‍🏫 guidde- Magically create stunning video documentation with AI (link)

🧠 Decktopus- An AI-powered presentation generator (link)

🙊 ChatNode- Train ChatGPT on your own data (link)

Browse the most popular tools ever featured with our tool database.

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SNIPPETS

The European Commission opened a formal infringement proceeding against X (formerly Twitter) under the Digital Services Act over suspected failures to address illegal/harmful content and disinformation.

Nikola founder Trevor Milton was sentenced to four years in prison over securities and wire fraud convictions for lying to investors about the electric truck startup's technology.

Acura opened reservations for the 2024 ZDX, its first all-electric SUV starting at $60K. The Google-powered EV promises 325 miles of range, up to 500HP, and deliveries beginning in early 2024.

A bipartisan group of US lawmakers wrote to President Biden warning the EU's Digital Markets Act unfairly targets major US tech companies as "gatekeepers" while excluding Chinese and EU companies.

Tesla has begun removing the Disney+ app from vehicles amid CEO Elon Musk's ongoing feud with Disney after its ad pause on X.

TikTok rolled out an enhanced viewing experience for tablets and foldables with a clearer feed, top and bottom nav bars, landscape orientation support, and streamlined controls.

The UK's National Health Service will begin using Zipline drones to deliver critical medical supplies across 30 facilities in England by late 2024.

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THAT’S A WRAP

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