IBM has entered into a definitive agreement with Vista Equity Partners to acquire Apptio Inc, a specialist provider of financial and operational IT management and optimisation software, for $4.6 billion.Â
IBM has entered into a definitive agreement with Vista Equity Partners to acquire Apptio Inc, a specialist provider of financial and operational (FinOps) IT management and optimisation software, for $4.6 billion.
IBM says the acquisition of Apptio will accelerate its IT automation capabilities and enable enterprise leaders to deliver enhanced business value across technology investments.
Apptio’s solutions provide users with simplified visibility into technology spend across hybrid and multi-cloud environments, labour and associated resources. Together with IBM’s IT automation software and its watsonx AI platform, Apptio will help businesses around the world manage and optimise enterprise IT spend and derive tangible financial value and operational improvement.
Apptio has over 1,500 clients, serving more than half of the Fortune 100, and the company partners and integrates with Amazon Web Services, Microsoft Azure, Google Cloud Platform, Salesforce, ServiceNow, Oracle and SAP, consistent with IBM’s commitment to an open partner ecosystem.
The acquisition will be completed with available cash on hand. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the latter half of 2023.
