Atlassian Corporation Plc (NASDAQ:TEAM), a provider of team collaboration and productivity software, acquired AgileCraft, a Georgetown, Texas-based provider of enterprise agile planning software, for approx. $166m.
The acquisition is comprised of approximately $154m in cash, and the remainder in Atlassian restricted shares, subject to continued vesting provisions. The purchase price under the definitive agreement is subject to customary adjustments.
The transaction is expected to close in April, subject to certain closing conditions.
Founded in 2013 by Steve Elliott, CEO, AgileCraft provides enterprise organizations with agile planning software to build and manage a ‘master plan’ of their most strategic projects and workstreams. Business leaders use it to map strategic projects to the distributed work required to deliver them, providing visibility into bottlenecks, risks and dependencies, and more accuracy around capacity planning and measuring return on investment.
AgileCraft helps them answer the most important questions around their most critical projects:
– what’s the true cost and expected value of the important work being driven by teams inside my company?
– what does the overall roadmap look like for company-wide strategic imperatives?
– what are the major dependencies and risks associated with what we’re trying to deliver?
– how can we move faster, or do more with less?
– how does work at the team level align with the company’s top objectives?
Atlassian provides a team collaboration and productivity software products for teams to organize, discuss and complete shared work. Teams at more than 138,000 customers, across large and small organizations – including General Motors, Walmart Labs, Bank of America Merrill Lynch, Lyft, Verizon, Spotify and NASA – use Atlassian’s project tracking, content creation and sharing, and service management products including Jira Software, Confluence, Trello, Bitbucket, Opsgenie and Jira Service Desk.