IBM nears US$5 billion deal for Apptio

IBM nears US$5 billion deal for Apptio

Cloud cost optimiser to be snapped up.

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IBM is nearing a deal to acquire software company Apptio for about US$5 billion (S$6.76 billion), the Wall Street Journal reported, citing people familiar with the matter.

A deal between the companies could be completed over the weekend, the Journal reported, adding that it was unclear whether the purchase price includes debt.

IBM declined to comment on the report. Apptio did not immediately respond to Reuters request for comment.

Apptio, taken private by Vista Equity Partners in 2018 for US$1.94 billion, provides products including cloud-based and hybrid business management software, a possible asset for technology giant IBM.

Its technology is particularly widely used among Australian enterprises as a way to rein in cloud costs.

The deal follows IBM's 2021 purchase of software provider Turbonomic for over US$1.5 billion and its 2019 acquisition of software company Red Hat for US$34 billion.

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