Atlassian buys asset tracking company Mindville

Atlassian also reported its fiscal fourth quarter financial results after market close on Thursday.
Written by Natalie Gagliordi, Contributor

Atlassian said Thursday that it's acquiring Mindville, an asset tracking and configuration management company based in Sweden. Financial terms of the deal were not disclosed.

Mindville aims to provide enterprises with full visibility into their assets and services, allowing teams to see how various services are linked to the underlying infrastructure. 

Atlassian said the deal is part of its ongoing investment in IT service management. The company has made a number of acquisitions in this space, including its purchase of Opsgenie for incident management, Automation for Jira for code-free automation, and Halp for conversational ticketing

Mindville is an existing provider in the Atlassian Marketplace, with over 1,700 customers such as NASA, Spotify, and Samsung. Atlassian said it will continue to augment Mindville's asset and configuration management capabilities and integrate it tightly with Jira Service Desk. 

The acquisition was announced alongside Atlassian's fourth quarter results. The collaboration and productivity software company reported non-GAAP earnings of 25 cents per share on revenue of $430.5 million, up 29% from a year ago.

Wall Street was expecting the company to report earnings of 21 cents per share on revenue of $410.7 million.

Atlassian's subscription revenue climbed to $257.5 million, up from $180.9 million the year prior. The company reported a free cash flow of $574.2 million. Elsewhere, Atlassian said it grew its customer count on a net basis by 3,046 for the quarter. It ended Q4 with a total customer count on an active subscription or maintenance agreement basis of 174,097.

In terms of guidance, Atlassian is expecting first quarter revenue in the range of $430 million to $445 million, with EPS between 26 cents and 27 cents. Analysts expect the company to report first quarter earnings of 29 cents per share on revenue of $438.8 million. Shares of Atlassian were down over 8% after hours.

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