Welcome to the Week in Review (WiR), where we bring you the latest tech news and updates. This week has been anything but quiet, with major developments in the tech world. Let’s dive into the top stories making headlines.
Key Takeaway
Adobe’s decision to abandon its acquisition of Figma reflects the complexities of navigating regulatory hurdles in major business deals. Meanwhile, the halt in Apple Watch sales and the large-scale data breaches serve as stark reminders of the ongoing challenges in the tech industry, from legal disputes to cybersecurity threats.
Adobe’s Figma Acquisition Plans Come to an End
Adobe’s $20 billion bid to acquire Figma has officially been called off. The companies cited regulatory pushback in Europe as the reason behind the decision to abandon the acquisition. The deal, which was announced in September last year, faced scrutiny due to its potential impact on the competitive landscape. This development marks a significant shift in the trajectory of both companies in the design and creative software space.
Apple Forced to Halt Apple Watch Sales
Following a ruling by the International Trade Commission (ITC), Apple has been compelled to stop the sale of its Series 9 and Ultra 2 smartwatches. The ruling stems from a patent dispute with med tech firm Masimo, specifically related to the blood sensor monitor on the latest Apple Watches. Despite Apple’s appeal against the ITC’s decision, the sales of these flagship products have been put on hold.
Hackers Access Sensitive Data of Comcast and Mr. Cooper Customers
Comcast and Mr. Cooper have fallen victim to a massive security breach, with hackers exploiting a critical vulnerability to access the personal information of millions of customers. Nearly 36 million Xfinity customers and over 14.6 million Mr. Cooper customers have been affected. The stolen data includes sensitive details such as names, addresses, Social Security numbers, and bank account information, raising concerns about the security of customer information in the hands of major corporations.
