IBM, a leading technology company, has announced its plans to acquire Apptio, a cloud software company, from private equity firm Vista Equity Partners for $4.6 billion. The acquisition is part of IBM’s strategy to enhance its machine learning and hybrid cloud offerings, as stated in a press release.
The acquisition of Apptio will enable IBM to advance its application management, optimization and observability offerings. The deal is expected to be finalized in the second half of 2023, pending regulatory approvals.
IBM’s CEO and chairman, Arvind Krishna, expressed that the combination of Apptio’s offerings with IBM’s IT automation software and Watson AI platform will provide clients with a comprehensive approach to optimize and manage their technology investments.