IBM announced plans to acquire software company Apptio for $4.6B, marking its seventh acquisition so far this year.

 

IBM announced plans to acquire software company Apptio for $4.6B, marking its seventh acquisition so far this year.  Apptio, owned by Vista Equity Partners, offers tools for companies to manage their IT budgets, forecasting, and analysis.  Apptio, headquartered in Washington, offers software solutions for financial and operational IT management and optimization. The company serves over 1,500 clients, including Amazon, Microsoft, and Google. IBM plans to combine Apptio's FinOps software with its Watsonx AI platform and automation software. The deal aligns with IBM's focus on AI and IT automation software, including its Red Hat offering. The acquisition, expected to close in the latter half of 2023, will be funded with cash on hand.