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IBM CEO Arvind Krishna speaks at a panel discussion at the World Economic Forum in Davos, Switzerland, on January 17, 2023.
Stefan Wermut | bloomberg | Getty Images
ibm On Monday, it announced that it would acquire software company Apptio from Vista Equity Partners for $4.6 billion.
The company said the acquisition of Apptio, which offers financial and operational IT management and optimization tools, is a continuation of IBM’s investment in AI and IT automation software. IBM said in a statement Apptio will help it develop application management, optimization and monitorability offerings.
IBM shares closed up 1% on Monday.
Apptio currently serves more than 1,500 clients, including major technology companies such as AmazonAnd Microsoft And Google. It has three core offerings that help customers manage their cloud strategy.
“Technology is transforming business at a rate and speed not seen before,” IBM CEO Arvind Krishna said in the release. “To capitalize on these changes, it is imperative to optimize investments that lead to better business value, and Apptio is doing exactly that.”
Apptio will be acquired for cash, and IBM said the deal is expected to close in the second half of this year.
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