Atlassian Acquires Melbourne-Based AirTrack to Elevate Jira Service Capabilities

Atlassian Acquires Melbourne-Based AirTrack to Elevate Jira Service Capabilities

Atlassian, the Australian software powerhouse, has finalised an acquisition deal with Melbourne's own AirTrack. The move will be publicly unveiled at a Sydney-based conference and aims to fortify Atlassian's Jira service management arsenal. This follows Atlassian's record $1.5 billion buyout of video collaboration platform Loom.

Transaction Highlights:

  • Deal Value: Undisclosed
  • Investor Lead: Atlassian, a global software juggernaut based in Australia
  • Recipient: AirTrack, a Melbourne tech firm specialising in data and digital asset oversight

AirTrack Snapshot:

  • Background and Origin: AirTrack was spun out from its parent company, The Mastermind Group, back in 2017 under the guidance of Managing Director Mike Jones.
  • Strategic Fit: AirTrack's specialisation in data and asset management seamlessly aligns with Atlassian’s existing portfolio, including past acquisitions like Opsgenie, Code Barrel, and ThinkTilt.
  • Shareholder Info: Largely bootstrapped, the company was primarily owned by Mike Jones and Fulvio Inserra, CEO of Mastermind Group.

Market Relevance:

  • Pain Point Resolution: AirTrack addresses a growing complexity in data and asset management, offering critical solutions that organisations often don't realise they need until faced with governance issues.
  • Niche Success: According to IBRS analyst Joe Sweeney, AirTrack has carved out a reputation for effectively spotting and filling a market gap.

AI and Future Directions:

  • Generative AI: Apart from the acquisition, Atlassian is set to reveal new features powered by generative AI, including a virtual agent for helpdesk queries.
  • Client Testimonials: AirTrack has garnered a fan base among clients by identifying ICT gaps, improving governance, and preempting outages and security loopholes.

What’s Next:

  • Synergies and Scale: With an undisclosed deal size and the backing of Atlassian, AirTrack is poised to scale its solutions, and it's likely to play a key role in Atlassian's ongoing growth in the service management space.
  • Forward Momentum: With AirTrack in the fold, Atlassian is well-positioned to address evolving governance and security challenges, strengthening its market presence in the realm of service management.

Looking to understand your company’s valuation before your own fundraise or exit? At Clear Value we help founders of tech companies use comparable reports with structured market data to make better decisions around valuation well ahead of any investment or liquidity event. Find out how we can help here.

Back to blog