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IBM (International Business Machines Corporation) announced its acquisition of Washington-based tech business management software developer Apptio Inc. in a strategic move to boost its artificial intelligence (AI) and information technology (IT) automation capabilities. The $4.6 billion deal with Vista Equity Partners is set to enhance IBM's technology investments, promising improved business value to its clientele.
IBM bought Apptio from Vista Equity, a large American private equity firm. It said that the acquisition move is actually a continuation of its investment plans in artificial intelligence (AI) and information technology (IT) automation software.
The company signed a definitive agreement with Vista Equity Partners to buy Apptio. This deal will scale up IBM's advancement in IT automation while also allowing enterprise leaders to convey or render up improved business value across technology investments, as per CNBC.
Apptio is currently serving over 1,500 customers, including major tech firms in the United States, such as Google, Amazon, and Microsoft. In any case, IBM is acquiring Apptio with full cash payment, and the deal is expected to close within the second half of this year.
"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," IBM's chairman and chief executive officer, Arvind Krishna, said in a press release. "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."
Apptio's co-founder and CEO, Sunny Gupta, further commented, "Our customers are evolving to a complex digital-first, hybrid world where technology investments are distributed and decentralized but all innovation must be aligned with clear business outcomes and we are so excited to be joining IBM."
Photo by: IBM Press Release
