The chase is on. Atlassian reported its largest-ever quarter for taking share from a major IT service management provider, CEO Mike Cannon-Brookes said on the company's fiscal third-quarter earnings call Thursday, escalating its rivalry with ServiceNow.

“This is our largest ever quarter for competitive displacements from a major ITSM provider,” Cannon-Brookes said, without referring to ServiceNow by name. “We're taking share from rivals as customers move away from legacy systems and choose Atlassian for a more modern, AI native and much better value service platform.…