Bundeskartellamt Clears Adobe's Takeover of Semrush

Bundeskartellamt Press Releases

Filed March 20th, 2026

Detected March 20th, 2026

Summary

The German Federal Cartel Office (Bundeskartellamt) has cleared Adobe Inc.'s acquisition of Semrush Holdings, Inc. in the first phase of merger control. The investigation found no serious concerns regarding market foreclosure or product bundling, allowing the transaction to proceed.

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What changed

The Bundeskartellamt has cleared Adobe's acquisition of Semrush Holdings, Inc. The German Federal Cartel Office conducted an in-depth investigation into the merger, which combines a global technology company known for creativity and productivity applications with a provider of online visibility software. Despite initial concerns that the merger might significantly strengthen market positions, particularly in the evolving field of answer engine optimization and content management, the Bundeskartellamt concluded that sufficient alternatives exist and there is no risk of market foreclosure.

This clearance means the transaction can proceed without further conditions from the Bundeskartellamt. Companies involved in merger control, especially in the technology sector, should note the Bundeskartellamt's approach to transaction value thresholds and its thorough investigation process, which included extensive customer and competitor inquiries. While no specific compliance actions are mandated by this clearance, it signifies a successful navigation of German merger control regulations for Adobe and Semrush.

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Current contents of the Federal Cartel Office

Adobe can take over Semrush

20.03.2026

published on: 20.03.2026

The Bundeskartellamt has cleared plans by Adobe Inc., Delaware, USA, to take over Semrush Holdings, Inc., Boston, USA, in the first phase of merger control.

Adobe is a global technology company known particularly for its creativity and productivity applications, including the Photoshop image editing software, and its PDF software. Adobe also offers marketing and commerce software, including Adobe Experience Manager, which can be used to create and manage online content such as text, images and videos (“content management”).

Semrush offers a range of software solutions for managing online visibility, including search engine optimisation applications to improve brand visibility online. Semrush has also recently launched a tool for optimising brand visibility and brand image across generative AI models and the chatbots based on them, such as ChatGPT and Gemini (also referred to as “answer engines”).

Andreas Mundt, President of the Bundeskartellamt: “ Each Adobe and Semrush are among the leading providers in their respective fields. It could not be ruled out from the outset that the merger might significantly strengthen the parties’ market positions, for example in the rapidly evolving field of answer engine optimisation and in the area of content management. The Bundeskartellamt therefore carried out extensive investigations among customers and competitors. However, no serious concerns were raised. In fact, it was found that sufficient alternatives are available and that there is no risk of market foreclosure, including from product bundling. The project could therefore be cleared .”

The Bundeskartellamt examined the merger plans on the basis of the transaction value threshold. Mergers must be notified under the transaction value threshold if companies or assets which (at the time of the merger) generate little or no turnover in Germany are acquired at a purchase price of more than 400 million euros.