Software Company Atlassian is acquiring the agile development software maker AgileCraft for $166 million, of which $154 million is in cash.
The transaction is expected to close in April. The company also looks forward to adding between US$1 to US$2 million in revenue for the fiscal year 2019.
Established in 2013, AgileCraft is headquartered in Georgetown, Texas. Their solutions are focused on mapping strategic projects to the distributed work required to deliver them. The team at Atlassian say that this offers better visibility into risks, roadblocks, and dependencies. It also ensures accuracy around capacity planning and measuring the RoI.
“Many leaders are still making critical decisions using their instincts and best guesses instead of data,” Scott Farquhar, Atlassian’s co-founder, and co-CEO said in a statement. “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 a company to help executives align the work across their organization – providing an all-encompassing view that connects strategy, work, and outcomes.”
AgileCraft offers flexibility with support for frameworks like SAFe, LeSS and Spotify. It pulls the data from the tools like Atlassian’s Jira, Microsoft’s Team Foundation Server, and IBM’s RTC.
The two organizations already have a few common customers. Anthem, AT&T, Dimension Data, Fidelity and Nielsen already use Atlassian and AgileCraft solutions to scale strategic direction.
Speaking of the move, Steve Elliott, AgileCraft founder, and CEO said, ”Organisations cannot 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 can connect teams and align strategy to outcomes.”