• Home
  • News
  • Analysis
  •  
    Regions
    • Australasia
    • Southeast Asia
    • Greater China
    • North Asia
    • South Asia
    • North America
    • Europe
    • Central Asia
    • MENA
  •  
    Funds
    • LPs
    • Buyout
    • Growth
    • Venture
    • Renminbi
    • Secondary
    • Credit/Special Situations
    • Infrastructure
    • Real Estate
  •  
    Investments
    • Buyout
    • Growth
    • Early stage
    • PIPE
    • Credit
  •  
    Exits
    • IPO
    • Open market
    • Trade sale
    • Buyback
  •  
    Sectors
    • Consumer
    • Financials
    • Healthcare
    • Industrials
    • Infrastructure
    • Media
    • Technology
    • Real Estate
  • Events
  • Chinese edition
  • Data & Research
  • Weekly Digest
  • Newsletters
  • Sign in
  • Events
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)870 240 8859

      Email: customerservices@incisivemedia.com

      • Sign in
     
      • Saved articles
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • RSS
    • Twitter
    • LinkedIn
    • Newsletters
  • Free Trial
  • Subscribe
  • Weekly Digest
  • Chinese edition
  • Data & Research
    • Latest Data & Research
      2023-china-216x305
      Regional Reports

      The reports review the year's local private equity and venture capital activity and are filled with up-to-date data and intelligence on fundraising, investments, exits and M&A. The regional reports also feature information on key companies.

      Read more
      2016-pevc-cover
      Industry Review

      Asian Private Equity and Venture Capital Review provides an independent overview of the private equity, venture capital and M&A activities in the Asia region. It delivers insights on investments made, capital raised, sector specific figures and more.

      Read more
      AVCJ Database

      AVCJ Database is the ultimate link between Asian dealmakers and those who provide advisory, financial, legal and technological services to the private equity, venture capital and M&A industries. It is packed with facts and figures on more than 153,000 companies and almost 117,000 transactions.

      Read more
AVCJ
AVCJ
  • Home
  • News
  • Analysis
  • Regions
  • Funds
  • Investments
  • Exits
  • Sectors
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)870 240 8859

    Email: customerservices@incisivemedia.com

    • Sign in
 
    • Saved articles
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
AVCJ
  • Exits

Australia's Atlassian to raise up to $425.5m in US IPO

  • Tim Burroughs
  • 01 December 2015
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Save this article  
  • Send to  

Atlassian, an enterprise software company founded in Sydney by two Australian entrepreneurs, has set terms to raise up to $425.5 million through its NASDAQ IPO.

According to a regulatory filing, Atlassian will sell 20 million shares at between $16.50 and $18.50 apiece, with underwriters able to sell a further 3 million shares depending on market demand. This equates to an overall valuation of $3.4-3.8 billion, compared to the reported $3 billion valuation at which the company raised its most recent private funding round.

Accel Partners is not selling any shares in the IPO but its holding will be diluted from 12.5% to 11.3%. Co-founders Mike Cannon-Brookes and Scott Farquhar each own 37.2% of the company. They will be diluted to 33.6% apiece due to the issue of new shares.

The duo, who met while studying at the University of New South Wales in Sydney, set up Atlassian in 2002. The company develops products aimed at software developers and project managers. Its core offering is JIRA, which is used to manage team workflow. Atlassian has also created a host of other applications, including a private chatroom service, a workplace collaboration platform, and various systems integration and optimization services.

Atlassian has more than five million monthly active users of its products and in excess of 51,000 customers, defined as organizations with at least one active and paid license or subscription for which they paid more than $10 per month. Customers range from small and medium-sized enterprises to 79 members of the Fortune 100.

The firm has been profitable for each of the last 10 financial years. Revenue came to $319.5 million for the 12 months ended June 2015, up from $215.1 million the previous year. Maintenance accounts for approximately half of revenue, followed by subscriptions and perpetual licenses. Net profit fell to $6.77 million in 2015 from $18.9 million in 2013, largely due to a substantial increase in R&D expenditure.

Atlassian is the 27th largest unicorn - private start-ups with valuations of $1 billion or more - globally and the ninth largest in Asia Pacific, according to CB Insights. It has raised $210 million across two rounds, the most recent a $150 million commitment from T. Rowe Price and Dragoneer. Accel, which made a partial exit in the second round, initially invested $60 million in 2010.

Goldman Sachs and Morgan Stanley are joint lead managers for the offering.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Save this article  
  • Send to  
  • Topics
  • Exits
  • Technology
  • Australasia
  • Australia
  • Technology
  • Accel Partners
  • IPO
  • Exit

More on Exits

artificial-intelligence-ai-chip-semiconductor
China AI player Mobvoi files for Hong Kong IPO
  • Greater China
  • 07 Jun 2023
japan-tokyo-shibuya
Japan buyouts: Bucking the trend
  • North Asia
  • 06 Jun 2023
wind-turbine-cleantech
Deal focus: Goldman secures $1bn exit from India’s ReNew
  • South Asia
  • 05 Apr 2023
asia-map-globe
Asia GPs must get smarter on target selection, costs - Bain & Co
  • Exits
  • 28 Mar 2023

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs
  • 10 November 2023
housing-house-home-mortgage
Singapore fintech start-up LXA gets $10m seed round

New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.

  • Southeast Asia
  • 10 November 2023
india-rupee-money-nbfc
India's InCred announces $60m round, claims unicorn status

Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”

  • South Asia
  • 10 November 2023
roller-mark-luke-finn
Insight leads $50m round for Australia's Roller

Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.

  • Australasia
  • 10 November 2023
Back to Top
  • About AVCJ
  • Advertise
  • Contacts
  • About ION Analytics
  • Terms of use
  • Privacy policy
  • Group disclaimer
  • RSS
  • Twitter
  • LinkedIn
  • Newsletters

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013