IBM to acquire software company Apptio for $4.6 billion

IBM connected Monday announced it volition get the bundle institution Apptio from Vista Equity Partners for $4.6 billion.

The institution said the acquisition of Apptio, which offers fiscal and operational IT absorption and optimization tools, is simply a continuation of IBM's concern successful AI and IT automation software. IBM said in a release that Apptio volition assistance it beforehand its exertion management, optimization and observability offerings.

Shares of IBM were up little than 1% Monday.

Apptio presently serves much than 1,500 clients, including large tech companies similar Amazon, Microsoft and Google. It has 3 halfway offerings that assistance customers negociate their unreality strategy.

"Technology is changing concern astatine a complaint and gait we've ne'er seen before," IBM CEO Arvind Krishna said successful the release. "To capitalize connected these changes, it is indispensable to optimize investments which thrust amended concern value, and Apptio does conscionable that."

Apptio volition beryllium acquired with cash, and IBM said the woody is expected to adjacent successful the second fractional of this year.