CANBERRA: Atlassian co-CEO Scott Farquhar has outlined the $US6.5 billion ($8.5 billion) Sydney born software provider’s strategy for continued growth, including through acquisitions, as it seeks to eclipse $US600 million in revenue this financial year. Speaking to The Australian Financial Review after the company signed off on its first annual result since going public on the Nasdaq last year, Mr Farquhar said Atlassian, which is sitting on $US743 million in cash, would continue to look for bolt-on acquisitions to help it grow.
“We have done a lot of M&A over the years,” he said. “You will continue to see us deploy capital efficiently in small acquisitions, we have got a pretty good track record with them.” There has been an outbreak of mergers and acquisitions in the software as a service sector (SaaS) in which Atlassian operates this year. Microsoft acquired LinkedIn for $US26.2 billion, Oracle acquired NetSuite for $US9.3 billion, Salesforce has struck three acquisitions and Atlassian itself bought StatusPage, an incident communication provider, for an undisclosed sum,.
