October 14, 2019 News Magazine

Atlassian acquires AgileCraft for $166M

Atlassian today announced that it has acquired AgileCraft, a service that aims to give enterprises plan their strategic projects and workstreams. The service provides business leaders with additional insights into the current status of technical projects and gives them insights into the bottlenecks, risks and dependencies of these projects. Indeed, the focus of AgileCraft is less on technical teams than on the business teams that support them and help them manage the digital transformation of their businesses.

The price total of the acquisition is about $166 million, with $154 million in cash and the remainder in restricted shares.

“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, in today’s announcement. “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.”

As the name implies, AgileCraft focuses on the Agile methodology, though it also offers a bit of flexibility there with support for frameworks like SAFe, LeSS, Spotify. It supports pulling in data from tools like Atlassian’s Jira, but also Microsoft’s Team Foundation Server, IBM’s RTC and other services.

Atlassian will continue to operate AgileCraft, which had raised about $10.1 million before the acquisition. as a standalone service. “We will continue to focus relentlessly on our customers’ success,” writes AgileCraft’s founder and CEO Steve Elliott. “We remain dedicated to pioneering enterprise agility and are thrilled to team up with the outstanding people at Atlassian to help our customers thrive.”

Over the years, Atlassian started embracing users and use cases for its tools that go beyond its core tools for development tools. Jira and Confluence are the prime examples for this. Today’s acquisition continues this trend in that AgileCraft aims to bring many of the methodologies that tech teams use to the rest of the company.

“One of the critical roles we play for lots of organizations is in helping drive this kind of digital transformation where we’re really empowering the teams that are building and developing the kind of technology that moves our customers forward,” Atlassian president Jay Simons told me. “AgileCraft basically complements all of that by extending visibility into what teams are using Atlassian products to do up into key stakeholders and leaders in the business that are trying to manage better visibility at a portfolio or program level.”

Simons also stressed that AgileCraft already has very strong integrations into the existing Atlassian tools — and indeed, that was one of the main drivers of the acquisition. He noted that the company plans to improve those and think about additional patterns. “We’ll continue doing what we’re doing,” he said.

Simons also noted that he expects that a lot of Jira customers will now look at AgileCraft as an additional tool in helping the businesses manage their business’s digital transformation.

Atlassian doesn’t typically make a lot of acquisitions. Its pace is close to about one major buy per year. Last year, the company picked up OpsGenie for $295 million. In 2017, it acquired Trello for $425 million, the company’s biggest acquisition to date. Other major products the company acquired include StatusPage, BlueJimp, HipChat and Bitbucket (all the way back in 2010).

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