Atlassian acquires Mindville, a Swedish asset tracking company

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Atlassian announced that they acquired Mindville, a Swedish company that deals in asset tracking and configuration management. The terms of the deal were not revealed.

Mindville’s work focuses on making it easy for enterprises to have full visibility into their assets and services. The departments in each organization, are given capabilities that allow them to see how services are linked to the foundational infrastructure, on which everything is built.

This deal is part of Atlassian’s ongoing effort to get into the IT service management space. Mindville is not the first acquisition that they have made. They also purchased Opsgenie, which deals in incident management, Halp for conversational ticketing, and Automation for Jira when performing code-free automation.

A new customer base

Mindville is already a service provider in Atlassian’s Marketplace and boasts a list of clients that include Samsung, NASA, and Spotify. Atlassian said that the plan is to continue augmenting Mindville’s capabilities and integrate it with Jira Service Desk.

The acquisition was announced at the same time that Atlassian was releasing their fourth-quarter report. They reported non-GAAP earnings of 25 cents per share from a revenue of $430.5 million. These results indicate an increase of 29%, up from last year.

Exceeded expectations

The projections from Wall Street had predicted that Atlassian would announce earnings of 21 cents per share and a revenue of about $410.7 million. It would seem that they exceeded their expectations.

Atlassian’s subscription revenue is up from $180.9 million last year to $257.5 million this year. They also reported a free cash flow of $547.2 million. The report also indicated that they grew their customer base by 3,046 in the fourth quarter. Hopes are high, with projected revenue in the first quarter of $430-$445 million and EPS of 26-27