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Software maker Atlbadian Corp Plc announced Thursday that it would leave its discussion platform business by selling Stride and Hipchat Cloud to Slack Technologies for an undisclosed amount.
Atlbadian made an equity investment in Slack based in San Francisco and will also partner with the company for marketing and sales.
Atlbadian shares rose about 16.7% to $ 78 outside trading hours.
Slack, a start-up providing business communication tools, will stop using the Microsoft Corp team chat tools that launched a free version of Teams, its own collaboration software at work, earlier this month.
Atlbadian also announced Wednesday a larger net loss of $ 25.9 million, or 11 cents per share, in the fourth quarter. , from a loss of $ 20.7 million, or 9 cents, a year earlier.
Revenues increased 40% to $ 243.8 million.
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