- On 26th June, IBM declared its acquisition of the software company Apptio for $4.6 billion from Vista Equity Partners.
- Apptio extends financial and operational IT management and optimization software and provides service to more than 1,500 clients, which include major industry clients like Microsoft, Google, and Amazon.
- The Apptio acquisition will be made in cash, and IBM expects to close the deal by the latter half of this year.
On Monday, 26th June, IBM declared its acquisition of the software company Apptio for $4.6 billion from Vista Equity Partners.
Apptio is a software company that extends financial and operational IT management and operational tools to a client base of 1,500, including companies like Microsoft, Google, and Amazon. It is now owned by Vista Equity Partners, which paid $1.8 billion to make it private in 2018. It offers three core technologies that help clients manage their cloud strategies.
IBM said that this acquisition is a continuation of IBM’s investment in IT and AI automation software. IBM confirmed that Apptio would help advance optimization, application management, and observability contributions.
IBM shares on Monday closed at 1%.
In the release, the CEO of IBM, Arvind Krishna, said,
“ Technology is changing business at a rate and pace we’ve never seen before. To capitalize on these changes, it is essential to optimize investments which drive better business value, and Apptio does just that.”
The deal is not a surprise, as there were rumors about the work being done over the weekend. The deal will be done entirely on cash and is expected to close by the latter half of 2023.