Atlassian has struck a $937 million deal to acquire The Browser Company, the New York startup behind Arc and Dia, in a move that marks one of the biggest acquisitions in the company’s history.
Key Takeaways
- Atlassian is acquiring The Browser Company for US$610 million (AU$937m).
- The deal moves the Australian tech giant in competition with the likes of Google, Apple, and Microsoft, whose Chrome, Safari, and Edge browsers dominate global market share.
- The Browser Company previously raised $128 million and reached a $500 million valuation in March 2024.
- The company paused development of its first browser, Arc, in 2024, and shifted focus to Dia. Browser Company CEO Josh Miller says Dia will remain independently operated after the acquisition.
- The deal is expected to close in Q2 of Atlassian’s fiscal year 2026.
Key Background
In a video announcement on Friday morning, Atlassian CEO Mike Cannon-Brookes called the deal “a bold new chapter” for the company.
“We’ve entered into an agreement to acquire The Browser Company of New York, the team behind the incredible Arc and Dia browsers,” he says, adding that together they have the potential “to change the way one billion workers use AI to get work done in their browser.”
The deal, one of Atlassian’s largest acquisitions to date, is expected to close in the second quarter of its fiscal year 2026.
Founded in 2019 by Josh Miller and Hursh Agrawal, The Browser Company first made waves with Arc, a design-focused browser that built a loyal following before shifting focus to Dia, and positioning it as an AI-powered browser built around chat, skills, and memory.
In his own post on X, Browser Company CEO Josh Miller says the deal is about giving Dia the “resources, distribution, and monetization muscle” to realise its vision, while stressing the team would remain independent and focused on shipping faster.
So why is the Australian tech giant entering the browser wars?
For Cannon-Brookes and the Atlassian team, the acquisition extends the company’s core products, Jira, Confluence, and Trello, into the place where most work already happens – the browser.
In his announcement, the billionaire co-founder, who came in at number three on Forbes Australia’s 50 Richest list, says the current generation of browsers “was designed in an era before SaaS and well before the current AI revolution,” arguing that Dia can become an AI browser for work.
“It’s a bystander in your workflow, treating every tab the same, with no awareness of your work context, no understanding of your priorities, and no help connecting the dots between your tools,” Cannon-Brookes says. “It’s time for a browser that’s actually built for work – a browser that helps you do, not just browse.”
Crucial Quote
“We have the potential to change the way one billion knowledge workers use AI to get work done in their browser,” says Cannon-Brookes.
Big number
$937 million – The all-cash price Atlassian is paying to acquire The Browser Company.
Tangent
Last month, Atlassian’s other co-founder, Scott Farquhar, delivered his first major address as Chair of the Tech Council of Australia at the National Press Club in Canberra. Australia’s fourth-richest person, who stepped down as Atlassian’s co-CEO in August 2024 after 23 years leading the company alongside Cannon-Brookes, used the platform to warn that Australia risks being left behind in the global AI race.
He outlined a five-point plan that included positioning Australia as a regional hub for AI data centres, overhauling copyright law to support AI model training, API-enabling government services, creating fast-track digital apprenticeships, and urging ministers to lead by example by using AI daily.
Look back on the week that was with hand-picked articles from Australia and around the world. Sign up to the Forbes Australia newsletter here or become a member here.
