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IT-Ops Company OpsGenie to be Acquired by Atlassian

September 4, 2018

BOSTON--(BUSINESS WIRE)--Sep 4, 2018--OpsGenie, whose technology helps DevOps and IT-operations teams more seamlessly manage critical IT alerts and incidents, has signed a definitive agreement to be acquired by Atlassian (Nasdaq: TEAM), a leading provider of team-collaboration and productivity software, for $295 million.

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“Trends like DevOps, microservices and agile software development have profoundly changed how companies build and run their IT operations today—and makes monitoring those critical operations even more complex,” said Neeraj Agrawal, a Battery general partner and OpsGenie board member. “In light of these trends, incident-management companies like OpsGenie are now sought after by strategic acquirers. Battery is proud to have backed OpsGenie and believes there is even more room for innovation in this sector.”

“We see great synergies between Atlassian and OpsGenie,” said Berkay Mollamustafaoğlu, OpsGenie’s co-founder and CEO. “We share Atlassian’s vision of empowering teams through open work and collaboration and believe that together we can revolutionize the manner in which IT incidents are addressed throughout the entire response lifecycle.”

OpsGenie, which is based in Boston, provides a platform that helps organizations manage the flood of increasingly critical IT alerts that are now commonplace when operating “always-on” IT services. OpsGenie centralizes alerts, notifies the right people reliably and enables them to collaborate and take rapid action.

Software is also being developed more quickly today, which creates more opportunities for mishaps—and a need to alert the right people, in a timely manner, to fix software problems, noted Mollamustafaoğlu. OpsGenie’s technology—currently used by more than 3,000 companies—integrates with other key monitoring and ticketing tools and serves as a central repository for alert data.

“The Battery team has been a true growth partner to OpsGenie,” said Mollamustafaoğlu. “Battery’s assistance with recruiting top executives—in addition to helping us with other strategic and tactical matters—has been extremely valuable.” Battery, a global, technology-focused investment firm, in 2016 led OpsGenie’s Series A investment—the company’s only institutional round—and is the company’s majority shareholder. Atlassian’s official statement about the acquisition can be found here.

Battery Ventures provides investment advisory services solely to privately offered funds. Battery Ventures neither solicits nor makes its services available to the public or other advisory clients. For more information about Battery Ventures’ potential financing capabilities for prospective portfolio companies, please refer to our website. OpsGenie is a Battery portfolio company; for a complete list of all portfolio companies, please click .

No assumptions should be made that any investments identified above were or will be profitable. It should not be assumed that recommendations in the future will be profitable or equal the performance of the companies identified above. Please refer to Section 1 of our   for further information.

About OpsGenie

OpsGenie is a modern incident management platform for operating always-on services, empowering Dev and Ops teams to plan for service disruptions and stay in control during incidents. With over 200 deep integrations and a highly flexible rules engine, OpsGenie centralizes alerts, notifies the right people reliably, and enables them to collaborate and take rapid action. The company is headquartered in Boston, Massachusetts with additional offices in Falls Church, Virginia, and Ankara, Turkey. Learn more at https://www.opsgenie.com/.

About Battery Ventures

Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, London, New York and Israel. Follow the firm on Twitter @BatteryVentures, visit our website at  www.battery.com  and find a full list of Battery’s portfolio companies  here.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180904005296/en/

CONTACT: Battery Ventures

Rebecca Buckman

Vice President, Marketing Communications

415-426-5917

becky@battery.com

or

OpsGenie

Darren Henry

Vice President of Marketing

dhenry@opsgenie.com

KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT INTERNET SOFTWARE

SOURCE: Battery Ventures

Copyright Business Wire 2018.

PUB: 09/04/2018 08:00 AM/DISC: 09/04/2018 08:03 AM

http://www.businesswire.com/news/home/20180904005296/en

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