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 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 …