Australian enterprise software company Atlassian recently acquired project management service software Trello, in a $425 million deal that is the company’s largest acquisition to date.
 
Trello, developed under Fog Creek Software before being spun off as an independent company, currently boasts more than 19 million users and more than 100 employees. The company has already collected $10.3 million in investments in exchange for 20 percent of its value, and its price was almost 10 times more than earlier projections.
 
Atlassian plans to retain the company’s brand and services, as well as its current employees, and does not anticipate any significant changes for Trello’s existing customer base, which includes users in the Balkan nations, in the near term. Atlassian plans to push additional funds into investment in Trello and hopes to increase the customer base by a factor of five to 100 million users.
 
Including its investment in Trello, Atlassian has now acquired 18 services, including HipChata, BitBucket, SourceTree and dr. Last year the company spent more than 38 percent of its income on investment and development, and its investment in Trello is just a mere $32 million shy of its entire revenue for last year, which, having grown 42 percent from the previous year, sat at $457 million.