Atlassian acquires planning software provider AgileCraft for $234 million
Atlassian has acquired Texan agile planning software provider AgileCraft for US$166 million (A$234 million).
Founded in 2013, AgileCraft provides enterprise customers a solution to manage a 'master plan' of strategic projects and workstreams, allowing them to map these projects to the distributed work required, as well as provide visibility into bottlenecks, risks and dependencies.
Atlassian said in a statement that many of its biggest customers already use its flagship Jira software alongside AgileCraft to "scale strategic direction and align top to bottom."
"As Atlassian tools spread through organisations, technology leaders need better visibility into work performed by their teams," Atlassian co-CEO Scott Farquhar said.
"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.”
Atlassian expects the acquisition to contribute $1-2 million in revenue in the 2019 financial year, as well as reduce IFRS operating margins. The company will pay US$154 million in cash to AgileCraft, with the remainder of the $166m paid in restricted shares.
AgileCraft founder and CEO Steve Elliot said: "Organisations lack the ability to easily gather and distill information across siloed teams – making it extremely difficult to assess progress and measure success. 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."