The president of $26.6 billion Atlassian explains the 'gnarly problem' that prompted its $166 million acquisition of AgileCraft

Atlassian announced on Monday that it will acquire the Texas-based startup AgileCraft for $166 million.

AgileCraft, which was founded in 2013, helps companies with building and managing their projects, essentially helping them create a"master plan." According to PitchBook, AgileCraft raised $10 million after raising its Series B round in 2015. This deal, which comprises approximately $154 million in cash and the remainder in Atlassian restricted shares, is expected to close in early April.

"Customers that we've spoken to are really happy about the capability for businesses for agile planning at scale," Jay Simons, president, told Business Insider."We've got lots of customers who don't have this capability. My hope is they see the acquisition announcement and join the happy family of customers who are using AgileCraft."

Stay up bruh

Really? Well that doesn't explain why the president of Globallian prompted it's $1.2 billion acquisition of InsightInnovations as part of it's digital transformation initiative.

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