IBM to acquire software firm Apptio for $4.6 billion
The acquisition of Apptio, which has over 1,500 customers and partnerships with cloud companies from Amazon.com's AWS to Salesforce, will benefit IBM's Red Hat business, AI portfolio and its consulting business, the technology giant said in a statement. Founded in 2007, Seattle-based Apptio helps companies manage and understand their spending on cloud services and offers functionalities such as IT budgeting, forecasting and financial analyses. Private equity firm Vista Equity Partners agreed to pay about $2 billion for Apptio in 2018, which was over double its market cap at the tim...
Source: yahoo.com
