Collaborative software giant Atlassian announced on Thursday that it has agreed to acquire The Browser Co. for about $610 million in cash.

The purchase price is inclusive of The Browser Co.’s cash balance, subject to customary adjustments.

Founded in 2019 by Josh Miller and Hursh Agrawal, The Browser Co. is a startup behind the AI-powered Dia and Arc browsers. The New York-based company has raised $68 million in funding, per Crunchbase data, from investors such as BoxGroup, Pace Capital, NextView Ventures, Atlassian Ventures, and Figma co-founder and CEO Dylan Field.

According to Crunchbase’s predictions, The Browser Co. was “very likely” to be acquired. OpenAI and Perplexity also considered buying the startup, as reported by CNBC.

In a blog post, Mike Cannon-Brookes, co-founder and co-CEO of Australia-based Atlassian, wrote that his company’s goal with the acquisition is to create a browser designed for the specific needs of knowledge workers “in the AI era,” and  “not one that’s been built for everyone on the planet.”

“Today’s browsers weren’t built for work, they were built for browsing,” he added. For example, part of that vision is having the browser “packed with AI skills” and a user’s personal work memory “to connect the dots between … apps, tabs, and tasks.”

Startup M&A has been on the rise in 2025. Acquirers made just over $100 billion worth of disclosed-price startup purchases in the first half of 2025, per Crunchbase data. That’s a whopping 155% increase from the same period last year, showing buyers are increasingly willing to write big checks for sought-after companies.

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Illustration: Dom Guzman