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As cloud architecture continues to more ubiquitous among organizations, increasingly what is more apparent is that many organizations are taking a hybrid approach, blending SaaS in private and public clouds with some products that remain on premises. Today, IBM made a big acquisition doubling down on the hybrid concept: it will pay $4.6 billion in cash to buy Apptio -- which has built a platform to track how and where data lives in hybrid environments and how it's being used, in particular how that tallies up in terms of financial and resource costs. IBM said that the plan will be to ha...

IBM announced on Monday it is purchasing business software company Apptio Inc. from its parent Vista Equity Partners for $4.6 billion.

IBM (IBM) has entered into a definitive agreement with Vista Equity Partners to purchase Apptio Inc. for $4.6 billion. IBM noted that Apptio is a FinOps leader, with over 1,500 clients, serving more than half of the Fortune 100.

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The Apptio acquisition will help IBM compete with rival cloud services providers such as AWS, Google Cloud, Microsoft and Oracle, which offer their own expense tracking tools.