IBM CEO Arvind Krishna speaks during a panel at the World Economic Forum in Davos, Switzerland, January 17, 2023.
Stefan Womus | Bloomberg | Getty Images
international business machines corp. announced on Monday that it will acquire software company Apptio from Vista Equity Partners for $4.6 billion.
The acquisition of Apptio, which provides financial and operational IT management and optimization tools, is a continuation of IBM’s investments in artificial intelligence and IT automation software, the company said. IBM says in a version Apptio will help it advance its application management, optimization and observability offerings.
IBM shares closed up 1% on Monday.
Apptio currently serves more than 1,500 clients, including large technology companies such as amazon, Microsoft and Google. It has three core products that help customers manage their cloud strategies.
“Technology is changing business at a pace and pace we’ve never seen before,” IBM CEO Arvind Krishna said in a press release. “To capitalize on these changes, optimize investments to drive greater Good business value is critical, and Apptio does just that.”
Apptio will be acquired in cash, and IBM said the deal is expected to close in the second half of this year.
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