The Australian software company, Atlassian, on Monday (March.18th) announced that it has acquired AgileCraft for approximately $166m (£124m).
The deal is a mix of cash and stock, but most of it was paid in cash.
Atlassian, AgileCraft deal
According to Atlassian, $154m (£115m) was paid in cash and the remainder in “restricted shares, subject to continued vesting provisions”.
Atlassian is a leading provider of team collaboration and productivity software, including the issue and project tracking software, Jira.
Atlassian acquisition of AgileCraft will help large organisations move faster and scale the benefits of agile teamwork the entire business.
Several other companies, including Anthem, AT&T, Dimension Data, Fidelity, and Nielsen, trust Atlassian and AgileCraft to “scale strategic direction and align top to bottom”.
“Many leaders are still making mission-critical decisions using their instincts and best guesses instead of data,” said Scott Farquhar, Atlassian’s co-founder, and co-CEO. “As Atlassian tools spread through organisations, technology leaders need better visibility into work performed by their teams. With AgileCraft joining Atlassian, we believe we’re the best company to help executives align the work across their organisation – providing an all-encompassing view that connects strategy, work, and outcomes.”
“Organisations lack the ability to easily gather and distill information across siloed teams – making it extremely difficult to assess progress and measure success,” said Steve Elliott, AgileCraft founder, and CEO. “We’re excited to be joining the Atlassian family to enable the new digital enterprise, which is able to connect teams and align strategy to outcomes.”
The deal is expected to close in April 2019, subject to certain closing conditions.