Atlassian founders Mike Cannon-Brookes and Scott Farquhar after listing on the NASDAQ in 2015.Credit:Trevor Collens
Atlassian,which dominates the market for collaborative software development,said it was buying AgileCraft,which provides tools for tracking business projects,for $US166 million.
It fits with Atlassian’s goal of expanding out of customers'IT departments and into their wider businesses.
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This would allowAtlassian to gain a larger share of business from customers as they expand their use of technology,and"agile"tech work practices,across their business with digital transformation projects.
"Gone are the days when digital transformation was an option for companies. It’s now a requirement,"said Mr Farquhar in a blog explaining the purchase.
“With AgileCraft,leaders can examine their entire business to assess where they should be making strategic bets,like adding 10 per cent more funding to a mobile project that’s showing strong initial results,or dialling back on an integration initiative that’s not generating the forecasted customer value,” he said.
It will not be cheap for Atlassian,which is paying AgileCraft investors $US154 million cash and another $US12 million in restricted shares.