Atlassian has announced its plans to acquire video messaging platform Loom for approximately $975 million. This move aims to strengthen Atlassian’s team collaboration tools and capitalize on the increasing popularity of hybrid work. By integrating Loom’s technology into its software like Jira and Confluence, Atlassian will enable users to incorporate video into their workflows more seamlessly. Loom, which boasts over 25 million users globally and has investment from firms like Sequoia and Kleiner Perkins, offers tools that allow users to record screens, cameras, and microphones to create and share videos. The acquisition is set to be completed by March 2024, with the majority of the payment in cash. Atlassian anticipates a temporary decrease in operating margins in the coming fiscal years.
https://www.reuters.com/markets/deals/atlassian-agrees-buy-video-messaging-provider-loom-nearly-1-bln-2023-10-12/