Atlassian buys US-based AgileCraft for $234m

Major Australian software company Atlassian has entered a deal to acquire enterprise agile planning software developer AgileCraft for US$166 million ($233.7 million) in cash and shares.

Atlassian plans to continue to operate AgileCraft as a standalone service, incorporating it into the company's portfolio of business transformation offerings.

AgileCraft is based around the agile software methodology, and it is designed to help business leaders map strategic projects to the distributed work required to deliver them.

The service is designed to help business leaders answer important questions about critical projects, including the true cost and expected value of the strategic project, and the major dependencies and risks associated with the project's goals.

"Many leaders are still making mission-critical decisions using their instincts and best guesses instead of data," Atlassian co-founder and co-CEO Scott Farquhar said.

"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."

The transaction, which is expected to close in April, comprises US$154 million in cash and the remainder in restricted shares.

Atlassian said the acquisition is expected to add around $1 million to $2 million to the company's revenue for fiscal 2019.

Image credit: ©iStockphoto.com/Thomas Maier

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