IBM (NYSE: IBM) today announced that it has entered into a definitive agreement with Vista Equity Partners to purchase Apptio Inc., a provider of financial and operational IT management and optimization (FinOps) software, for $4.6 billion.
Apptio has more than 1,500 clients and serves more than half of the Fortune 100. The Bellevue, Washington-basd Apptio partners and integrates with leading companies such as Amazon Web Services, Microsoft Azure, Google Cloud Platform, Salesforce, ServiceNow, Oracle and SAP, consistent with IBM’s commitment to an open partner ecosystem.
“Technology is changing business at a rate and pace we’ve never seen before. To capitalize on these changes, it is essential to optimize investments which drive better business value, and Apptio does just that,” said Arvind Krishna, CEO and chairman at Armonk-headquartered IBM. “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.”
