IBM nears $5 bn deal for software provider Apptio

IBM is nearing a deal to acquire software company Apptio for about $5 billion, the Wall Street Journal reported.
A deal between the companies could be finalised over the weekend. It is unclear whether the purchase price includes debt.

Apptio, which was taken private by Vista Equity Partners in 2018 for $1.94 billion, provides products including cloud-based and hybrid business management software, a possible asset for technology giant IBM.

The deal follows IBM’s 2021 purchase of software provider Turbonomic for over $1.5 billion and its 2019 acquisition of software company Red Hat for $34 billion.

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