IBM nears $5 billion deal for software provider Apptio – WSJ
Technology
Apptio provides products like cloud-based and hybrid business management software
(Reuters) - IBM is nearing a deal to acquire software company Apptio for about $5 billion, the Wall Street Journal reported, citing people familiar with the matter.
A deal between the companies could be finalised over the weekend, the Journal reported, adding that it is unclear whether the purchase price includes debt.
IBM and Apptio did not immediately respond to Reuters' requests for comments.
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.
