IBM (IBM) announced on Monday that it is planning to acquire Apptio Inc., a company that offers FinOps for $4.6 billion. As the digital revolution accelerated the tech giant said that it had reached a definitive agreement to buy Apptio Inc. from Vista Equity Partners. IBM also said that it is deepening its focus and investment in hybrid cloud and AI. The acquisition of Apptio will drive synergies across important growth areas for IBM.
The press release by IBM outlined the benefits of the purchase. Apptio has been described as a SaaS (software as a service) IT company. It provides three core operations that are delivered as SaaS services. They include
ApptioOne
Apptio Cloudability and
Apptio Targetprocess.
Arvind Krishna, CEO and chairman of IBM said that Appito was an investment that would “drive better business value” as it was essential for them to capitalize on the changes that were taking place in technology.
He added, “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.”
Sunny Gupta, Apptio co-founder and CEO also noted that their customers were “evolving to a complex digital-first, hybrid world where technology investments” were “distributed and decentralized” and that innovation had to be “aligned with clear business outcomes.”
He also mentioned that they were excited to join IBM and to combine their offers with those of IBM. He mentioned the synergy they could obtain as IBM had a global presence as well as a “strong portfolio across AIOps, automation and hybrid cloud offerings.”
IBM is planning to acquire Apptio with cash on hand. The release also mentioned that the deal was subject to regulatory approvals and also to closing conditions. The acquisition will close by the second half of 2023, after it receives approval.
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