IBM nears US$5 billion deal for software provider Apptio: WSJ

IBM is nearing a deal to acquire software company Apptio for about US$5 billion, the Wall Street Journal (WSJ) reported on Friday (Jun 23), citing people familiar with the matter.

A deal between the companies could be completed over the weekend, WSJ 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.

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. REUTERS