Atlassian Corporation Plc (NASDAQ:TEAM), a provider of team collaboration and productivity software, is to acquire Trello, a provider of a visual collaboration tool.
The deal is valued at approximately $425m, which is comprised of approximately $360m in cash and the remainder in Atlassian restricted shares, restricted share units and options to acquire Atlassian shares, all subject to continued vesting provisions. The transaction is expected to close in the third quarter of fiscal 2017 ending March 31, 2017, subject to certain closing conditions and regulatory clearance.
The acquisition will expand Atlassian’s teamwork offering adding a new business team collaboration service to its enterprise-grade project tracking (JIRA), content (Confluence) and communication (HipChat) products used by more than 65,000 organizations in 170 countries.
In addition to launching a new version of its existing Trello integration for HipChat, Atlassian will be launching Trello integrations for its other leading collaboration products, including JIRA Software, Confluence and Bitbucket. The integrations will be available in the Atlassian Marketplace, which includes more than 2,000 add-ons and extensions.
Led by Michael Pryor, CEO, Trello has developed an intuitive, visual system that enables users to capture and add structure to fluid, fast-forming work for teams. Through virtual sticky notes and digital whiteboards for organization and prioritization of work, the software has proven especially popular with business teams, including Finance, HR, Legal, Marketing and Sales. It has been rapidly adopted by more than 19 million registered users in more than 100 countries around the world. The company was backed by Index Ventures and Spark Capital.
FinSMEs
11/01/2017