SAP - IBM says it has closed $4.6B Apptio acquisition

2023-08-10 11:16:19 ET

IBM ( NYSE: IBM ) said on Thursday that it closed its acquisition of business management software company Apptio, after agreeing to acquire the company in June.

In a statement, IBM ( IBM ) said it had received all regulatory approvals needed to purchase the Bellevue, Washington-based company from its previous owner, private equity firm Vista Equity Partners.

Vista Equity Partners agreed to acquire Apptio for $1.94B in 2018.

"The combination of Apptio products and IBM's IT automation portfolio will give businesses a 360-degree technology management platform they can use to optimize and automate decisions across their IT landscapes," said Rob Thomas, Senior Vice President, Software and Chief Commercial Officer, IBM, in a statement.

Apptio serves more than half of the Fortune 100 and  partners and integrates with companies such as Amazon ( AMZN ) Web Services, Microsoft ( MSFT ) Azure, Google ( GOOGL ) Cloud Platform, Salesforce ( CRM ), ServiceNow ( NOW ), Oracle ( ORCL ) and SAP ( SAP ).

IBM ( IBM ) shares rose more than 1% in early Thursday trading.

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