Slack is Buying HipChat Stride From Atlassian
Slack is Buying HipChat Stride From Atlassian
Published on July 26, 2018 at 08:23PM
Atlassian is selling its corporate chat software to rival Slack Technologies and taking a small stake in the startup, as they face greater competition from Microsoft. From a report: Slack will pay an undisclosed amount over the next three years to acquire Atlassian's HipChat and Stride products, chief executives from both companies said. Slack CEO Stewart Butterfield described both the payment and the investment by Atlassian in his company as "nominal" in financial terms but important strategically. He declined to elaborate on the former. The deal gives Slack, valued at north of $5 billion, more customers, most of whom pay a monthly service fee, and allows Atlassian to exit a business that failed to generate as much demand as expected. Combining the two businesses bolsters Slack at a time when Microsoft is pushing a rival product called Teams to some 135 million Office cloud customers. Microsoft introduced a free version of Teams this month in a bid to lure people who don't subscribe to Office 365.
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Published on July 26, 2018 at 08:23PM
Atlassian is selling its corporate chat software to rival Slack Technologies and taking a small stake in the startup, as they face greater competition from Microsoft. From a report: Slack will pay an undisclosed amount over the next three years to acquire Atlassian's HipChat and Stride products, chief executives from both companies said. Slack CEO Stewart Butterfield described both the payment and the investment by Atlassian in his company as "nominal" in financial terms but important strategically. He declined to elaborate on the former. The deal gives Slack, valued at north of $5 billion, more customers, most of whom pay a monthly service fee, and allows Atlassian to exit a business that failed to generate as much demand as expected. Combining the two businesses bolsters Slack at a time when Microsoft is pushing a rival product called Teams to some 135 million Office cloud customers. Microsoft introduced a free version of Teams this month in a bid to lure people who don't subscribe to Office 365.
Read more of this story at Slashdot.
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Slack is Buying HipChat Stride From Atlassian
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July 26, 2018
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