Enterprise software firm Atlassian is acquiring the agile planning software provider AgileCraft for around $166 million.
Atlassian is a leading provider of team collaboration and productivity software, including the issue and project tracking software JIRA. On the other hand, AgileCraft’s agile planning software helps enterprises to build and manage a master plan of their projects and workstreams.
Organizations in all the industries today need to respond to their customers faster, optimize the speed of innovation, and find modern tactics for working. Especially, large organizations are under pressure to improve customer experience and change faster on the basis of market trends and competitors.
Atlassian’s acquisition of AgileCraft is aimed to equip large organizations with agile teamwork so that they can move faster and scale the benefits across the entire enterprise.
“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 organizations, 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 organization – providing an all-encompassing view that connects strategy, work, and outcomes.”
In a blog post, Steve Elliott, AgileCraft founder and CEO, mentioned that the acquisition will help in building one of the premier software companies in the world. “I am certain that with the power of Atlassian’s people, products and customer base behind us, we can more quickly realize our goal of enabling 1,000 agile enterprises by 2023.”
“Organizations 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.
“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 value of the acquisition is around $166 million, including $154 million in cash and the remaining in Atlassian restricted shares. The deal will close in April 2019, subject to certain closing conditions. The company said that the acquisition will add approx. $1-2 million to Atlassian’s revenue for fiscal 2019.