Atlassian to Acquire Loom for $975 Million

Cleary Gottlieb is representing Atlassian, which announced that it has agreed to acquire Loom, the video messaging platform that has amassed more than 25 million users, for approximately $975 million.

The transaction was announced on October 12, 2023, and is expected to close in the third quarter of Atlassian’s fiscal year 2024.

Founded in 2016, Loom is a video messaging platform that helps users communicate through instantly shareable videos. Known for their ease of use, users simultaneously record their desktop screen, camera, and microphone creating rich documentation of institutional knowledge. With transcripts in 50+ languages and AI features that write titles, summaries, chapters, and tasks, Loom videos become important company know-how to be shared, reused, and self-served across teams.

For more information, please see the press release here.