LONDON (ShareCast) - (Sharecast News) - IBM announced on Monday that it has agreed to buy software provider Apptio from Vista Equity Partners for $4.6bn.
It said the acquisition "will accelerate the advancement of IBM's IT automation capabilities and enable enterprise leaders to deliver enhanced business value across technology investments".

IBM chief executive and chairman Arvind Krishna said: "Technology is changing business at a rate and pace we've never seen before. To capitalise on these changes, it is essential to optimize investments which drive better business value, and Apptio does just that.

"Apptio's offerings combined with IBM's IT automation software and watsonx AI platform, gives clients the most comprehensive approach to optimise and manage all of their technology investments."

IBM said the deal is expected to close in the latter half of 2023.

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