JIRA Studio is an agile development suite hosted by Atlassian that includes JIRA, Confluence, GreenHopper, FishEye, and Crucible. It provides benefits such as regular upgrades, 24/7 support, no hardware costs, and monthly billing. Features include a dashboard, activity stream, linking between tools, and integrating commit messages. The price has been cut in half to $25 per user and GreenHopper is now included for free.