IBM announced the acquisition of Apptio, a leader in financial and operational IT management and optimization (FinOps) software, for $4.6 billion from Vista Equity Partners.
Apptio, together with IBM’s IT automation software and its watsonx AI platform, will help clients manage and optimize IT spend and derive tangible financial value and operational improvement.
Apptio has over 1,800 clients, serving more than 60 percent of the Fortune 100. Apptio partners and integrates with companies such as Amazon Web Services, Microsoft Azure, Google Cloud Platform, Salesforce, ServiceNow, Oracle and SAP. Sunny Gupta is the co-founder and CEO of Apptio.
Founded in 2007, Seattle-based Apptio has 1,400 employees in 20 plus locations. IBM did not reveal financial performance of Apptio. IBM did not reveal the possible changes in its revenue outlook following the acquisition of Apptio.
Apptio has three core offerings, all delivered as software as a service (SaaS) – ApptioOne, Apptio Cloudability, and Apptio Targetprocess.
“Apptio’s offerings combined with IBM’s IT automation software and watsonx AI platform, gives clients the most comprehensive approach to optimize and manage all of their technology investments,” Arvind Krishna, CEO and chairman, IBM, said.
Apptio will bring to IBM $450 billion of anonymized IT spend data, unlocking new insights for clients and partners.