Market Overview

IT-Ops Company OpsGenie to be Acquired by Atlassian

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OpsGenie, backed by Battery Ventures, empowers Dev and Ops teams to
respond to IT-service disruptions

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.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180904005296/en/

"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
here.

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 
Terms
of Use
 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.

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