Last updated: October 23, 2023
1 minutes read
Atlassian is set to buy San Francisco-based video messaging company Loom for $975m.
Loom, founded in 2016, offers features like screen recording and AI-powered translations in 50+ languages.
This move will let Loom users integrate videos directly into Jira workflows and Confluence records.
Mike Cannon-Brookes, co-founder and co-CEO of Atlassian said: “Async video is the next evolution of team collaboration, and teaming up with Loom helps distributed teams communicate in deeply human ways.”
Both parties anticipate finalising the deal in Atlassian's Q3 2024, subject to regular conditions and regulatory approval.
The acquisition may marginally dilute non-GAAP operating margins for 2024 and 2025.
