A screen displays stock information for IBM at the New York Stock Exchange on October 29, 2018. Mondey saw IBM’s announcement of its acquisition of Apptio for over $4 billion. (Photo: Justin Lane/EPA-EFE)
June 26 (UPI) — IBM revealed on Monday its plan to acquire Apptio Inc., a business software company, from its parent firm Vista Equity Partners for $4.6 billion.
IBM stated that by incorporating Apptio’s financial and operational IT management and optimization software, it will be able to enhance its IT automation capabilities. The deal facilitates this purpose.
“With organizations rapidly digitally transforming their businesses, IT environments are expanding across public and private clouds and multiple service providers,” IBM explained in a statement.
“To effectively manage this increasing complexity, businesses rely on Apptio’s solutions for integrated and simplified visibility into technology expenditures across hybrid and multi-cloud environments, as well as labor and associated resources. Combining Apptio with IBM’s IT automation software and Watsonx AI platform, we will assist enterprises worldwide in managing and optimizing their enterprise IT spend, while deriving tangible financial value and operational improvements.”
Amazon, Google, and Microsoft are among the 1,500 clients of Apptio, which offers three core offerings – ApptioOne, Apptio Cloudability, and Apptio Targetprocess – that empower customers to effectively manage their cloud strategy.
“Technology is revolutionizing businesses at an unprecedented rate,” stated IBM CEO Arvind Krishna. “To capitalize on these changes, it is crucial to optimize investments that drive enhanced business value, which is exactly what Apptio enables.”
IBM is a leading provider of global hybrid cloud, AI, and consulting expertise, serving clients in over 175 countries.
In an effort to boost semiconductor production in the United States, President Joe Biden highlighted IBM’s plan to invest $20 billion in research and development initiatives across the Hudson Valley over the next decade in October of last year.
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