IBM (NYSE:IBM) agreed to acquire enterprise software company Apptio from private equity firm Vista Equity Partners for $4.6 billion.
Apptio will be acquired with available cash on hand, according to a statement on Monday. The transaction is expected to close in the latter half of 2023.
“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,” IBM CEO and Chairman Arvind Krishna said in the statement.
Apptio serves more than half of the Fortune 100. Apptio partners and integrates with companies such as Amazon (AMZN) Web Services, Microsoft (MSFT) Azure, Google (GOOGL) Cloud Platform, Salesforce (CRM), ServiceNow (NOW), Oracle (ORCL) and SAP (SAP).