Productivity software giant Atlassian is making the biggest acquisition that has not added developer productivity tools to its product suite.
On Thursday, Atlassian announced it had agreed to acquire the developer’s productivity insights platform DX with $1 billion in cash and restricted shares. Enterprises use DX to analyze engineering team productivity and identify bottlenecks slow down.
DX was launched five years ago by Abi Noda and Greyson Junggren. Noda told TechCrunch in 2022 that he set up the company to find a better way to understand what the engineering team has hindered. At the time, he felt that the metrics he was using as Github’s product manager didn’t provide him with a big picture and wanted to create something better than not letting the developer feel monitored.
“The assumptions about what you need to help you ship your products faster were completely different to what your teams and developers were saying,” Noda told TechCrunch at the time. “Even the team wasn’t always aware of their problems or leadership.”
DX came out of stealth in 2022 and tripled its customer base every year since. The company currently works with customers from over 350 companies, including ADP, Adyen and Github, raising less than $5 million in venture funding.
Atlassian co-founder and CEO Mike Cannon-Brookes told TechCrunch that after three years trying to build productivity insight tools for in-house developers, his Australia-based Sydney-based company realized it would make sense to look for existing external options.
DX was a natural choice, Cannon-Brookes said 90% of DX’s customers already think Atlassian’s project management and collaboration tools are also being used.
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“DX did an incredible job of understanding the qualitative and quantitative aspects of developer productivity and turning them into actions that can improve those companies and give insights and comparisons with others in the industry, others and others of their size,” says Cannon-Brookes.
He added that the timing was right with the rise of companies looking for AI tools and ways to measure how they are being used.
“All of a sudden these budgets are on the rise. Is that a good thing?” Cannonbrook said. “Isn’t that a good thing? Is I using my money the right way? It’s really, really important and critical.”
He added that there is also a great cultural fit. Cannon-Books said he has always been familiar with Utah-based entrepreneurs (DX is based in Salt Lake City). I also liked that both companies were able to scale without taking significant external funds.
The emotions were mutual.
Noda told TechCrunch this week that DX and Atlassian are better than separates, and that many of Atlassian’s tools complement the data and information that DX’s platform collects.
“We can get the data and provide that full flywheel to our customers to understand unhealthy places,” Noda said. “They can plug in Atlassian tools and solutions to address those bottlenecks. The end-to-end flywheel is what customers want.”
DX’s platform will be integrated into a broader Atlassian product suite.
This is the second acquisition of Atlassian this month. The company announced that it will purchase AI-Browser developer The Browser Company in early September.
