Atlassian Corporation to Acquire Video Messaging Platform Loom for $975 Million

Australia-based software firm Atlassian Corporation announced that it has entered into a definitive agreement to acquire video messaging platform Loom for approximately $975 million.

The transaction is expected to close in third quarter of Atlassian’s fiscal year 2024, subject to customary closing conditions and required regulatory approval. Founded in 2016, Loom helps users communicate through instantly shareable videos.