Productivity software giant Atlassian is making its largest acquisition yet to add a developer productivity tool to its product suite.
Atlassian announced Thursday it has agreed to acquire the developer productivity insight platform DX for $1 billion in cash and restricted stock. Enterprises use DX to analyze how productive their engineering teams are and identify bottlenecks slowing them down.
DX was launched five years ago by Abi Noda and Greyson Junggren. Noda told TechCrunch in 2022[1] that he founded the company to find a better way to understand what hampered engineering teams. At the time, he felt the metrics he was using as a product manager at GitHub weren’t giving him the full picture, and he wanted to build something better that didn’t make developers feel like they were being surveilled.
“The assumptions we had about what we needed to help ship products faster were quite different than what the teams and developers were saying was getting in their way,” Noda told TechCrunch at the time. “Even teams didn’t always have awareness about their own issues and leadership.”
DX came out of stealth in 2022 and has since tripled its customer base every year. The company now works with more than 350 enterprise customers, including ADP, Adyen and GitHub, among others, while raising less than $5 million in venture funding.
Atlassian co-founder and CEO Mike Cannon-Brookes told TechCrunch that after trying to build an in-house developer productivity insight tool for three years, his Sydney, Australia-based company realized it made sense to look for an external, existing option.
DX was a natural choice, Cannon-Brookes said, considering 90% of DX’s customers were already used Atlassian’s project management and collaboration tools as well.
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“DX has done an amazing job [of] understanding the qualitative and quantitative aspects of developer productivity and turning that into actions that can improve those companies and give them insights and comparisons to others in their industry, others at their size, etc.,” Cannon-Brookes said.
He added that the timing was right due to the rise of AI tools and companies looking for ways to measure how they are being used.
“You suddenly have these budgets that are going up. Is that a good thing?” Cannon-Brookes said. “Is that not a good thing? Am I spending the money in the right ways? It’s really, really important and critical.”
He added that there was a great cultural fit, too. Cannon-Brookes said he’s always felt an affinity for Utah-based entrepreneurs — DX is based in Salt Lake City — and he liked that both companies were able to scale without taking on much outside funding.
The feeling was mutual.
Noda told TechCrunch this week that he thinks DX and Atlassian are better together than apart and that many of Atlassian’s tools are complementary to the data and information that DX’s platform gathers.
“We are able to provide customers with that full flywheel to get the data and understand where we are unhealthy,” Noda said. “They can plug in Atlassian’s tools and solutions to go address those bottlenecks. An end-to-end flywheel that is ultimately what customers want.”
DX’s platform will be integrated into the broader Atlassian product suite.
This is Atlassian’s second acquisition this month. The company announced it was buying AI-browser developer The Browser Company[2] in early September.
References
- ^ TechCrunch in 2022 (techcrunch.com)
- ^ The Browser Company (techcrunch.com)