Atlassian completes acquisition of engineering intelligence firm DX

SAN FRANCISCO - Atlassian Corporation (NASDAQ:TEAM) announced Monday it has completed its acquisition of DX, a developer intelligence platform company. The move comes as Atlassian, currently valued at $41.89 billion, continues to expand its offerings despite its stock having fallen 10.36% over the past week.

The acquisition aims to enhance Atlassian’s ability to help organizations measure and improve developer productivity while providing visibility into their artificial intelligence investments, according to a company press release. This strategic move aligns with Atlassian’s strong revenue growth of 19.51% over the last twelve months, reaching $5.46 billion.

DX will be integrated into Atlassian’s System of Work and added to the recently announced Atlassian Software Collection, which includes Jira, Bitbucket, Bitbucket Pipelines, Compass, and Rovo Dev.

The DX platform provides both qualitative and quantitative data to help organizations evaluate developer productivity and satisfaction across the software development lifecycle. This capability addresses growing pressure on engineering leaders to demonstrate the value of AI investments as adoption accelerates.

"With Software Collection, engineering leaders can empower their developers with an AI-native SDLC and gain a holistic view of their engineering operations," the company stated.

DX currently serves numerous major companies including Dropbox, Block, Pinterest, and BNY.

Atlassian, a provider of team collaboration and productivity software, serves over 300,000 customers worldwide, including 80% of Fortune 500 companies such as NASA, Rivian, Deutsche Bank, United Airlines, and Bosch.

The company did not disclose financial details of the transaction in its announcement.

In other recent news, Atlassian Corporation reported strong fiscal first-quarter 2026 results, exceeding expectations in both cloud and total revenue growth. The company saw significant seat growth in its Jira and Confluence products, contributing to these results. Mizuho responded to the strong performance by raising its price target to $245, highlighting a 21% year-over-year revenue growth, which surpassed the anticipated 18%. Meanwhile, Truist Securities adjusted its price target from $230 to $210, maintaining a Buy rating, acknowledging the company’s strong top and bottom-line results driven by cloud migrations and upsell performance.

Cantor Fitzgerald maintained its Overweight rating with a $240 price target, citing Atlassian’s growth in AI as a positive factor. Piper Sandler also reiterated its Overweight rating, keeping a $300 price target, emphasizing the acceleration in cloud growth due to customer migrations from on-premise solutions. Goldman Sachs kept its Buy rating and $260 price target, noting the modest beat-and-raise results partially driven by the Data Center End-of-Life transition. These developments reflect a positive outlook from analysts on Atlassian’s ongoing cloud transition and revenue growth.

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