Oz Tech Guns Atlassian Bought A US Start-Up For $425M & Paid Mostly In Cash
SUBSCRIBE FREE TO PEDESTRIAN DAILY
Sydney tech unicorn Atlassian has announced its 18th acquisition, costing them a whopping $425 million for project management service, Trello. Incredibly, the Aussies paid $360 million of that amount in cash.
Christ, imagine just having that kinda money sitting around in your bank account. The rest of the purchase is to be paid via restricted shares and options.
Actual footage of the deal
This marks the company's largest acquisition to date and like a lot of their previous ones, they'll keep the service and brand running, noting that current users will not see any immediate changes to the software.
Trello itself is similar to Atlassian's own project management suite, JIRA, making it a good fit for the billion-dollar tech lords. Trello is currently servicing 19 million users and employs just shy of 100 employees, all of which will join the the Atlassian team.
Being one of the most desirable workplaces in Australia, it's fair to say the folks at Trello are getting a pretty sweet deal. Atlassian legit have their own bar, which, to me, is both fantastic and dangerous.
The acquisition is expected to be finalised prior to March 31 this year.