According to the Wall Street Journal, IBM and Vista Equity Partners are in advanced talks and that a deal could be announced today. The Journal report also noted that it’s unclear whether the purchase price includes debt.
Founded in 2007 Apptio offers cloud-based technology and hybrid business management software for managing businesses in the information technology field. The company provides a suite of business analytics applications that ingest data from various financial, operational, and billing systems to deliver a fact-based understanding of technology cost, quality and value.
One key feature underpinning Apptio’s services is its in-memory cost analytics platform. The platform is designed with next-generation capabilities and is the foundation for applications that deliver insights into an enterprise’s infrastructure, applications and business services. The gathered insights encompass both on-premises and cloud-based systems.
Apptio has more than 1,800 customers, including more than 60 per cent of the Fortune 100, with its customers managing an annual technology spend in excess of $650 billion.
This happens as IBM is shifting to more of a focus on the hybrid cloud and artificial intelligence. IBM has divested or spun off several companies in recent years, including Kyndryl Holdings. and Watson Health, and is also reportedly exploring the sale of its weather business.
A deal to acquire Apptio would fit with a pattern of Big Blue snapping up companies as part of its overall cloud shift.