Atlassian forks out $577 million to acquire US collaboration software firm Trello

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Atlassian forks out $577 million to acquire US collaboration software firm Trello

Australian software developed Atlassian will fork out $577 million to acquire US digital sticky notes and virtual whiteboarding company Trello.

Trello started off five years ago, building digital team collaboration tools based on the concept of sticky notes on walls.

It was spun out of software luminary Joel Spolsky's management tool company Fog Creek Software, and has since picked up venture funding from Spark Capital, BoxGroup and Index Ventures.

Trello's Michael Pryor said it has over 19 million users currently. Although Trello will be integrated with Atlassian's JIRA, HipChat and Confluence, Pryor said it will continue to operate as a standalone service.

Atlassian co-founder Mike Cannon-Brookes said the acquisition will complement the Australian company's portfolio of adaptable team collaboration software.

The deal is valued at $577 million, with Atlassian stumping up $489 million in cash, and the remainder being paid in restricted shares and share units, and options to buy shares in the Australian company.

All 100 Trello employees will be transferred to Atlassian. 

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