IBM Poised To Gobble Up Apptio In $5-B Deal

IBM is nearing a deal to acquire software company Apptio for about $5 billion, the Wall Street Journal reported, citing people familiar with the matter.

Photo Insert: The deal follows IBM's 2021 purchase of software provider Turbonomic for over $1.5 billion and its 2019 acquisition of software company Red Hat for $34 billion.

A deal between the companies could be completed over the weekend, the Journal reported, adding that it was unclear whether the purchase price includes debt, Reuters also reported.

Apptio, taken private by Vista Equity Partners in 2018 for $1.94 billion, provides products including cloud-based and hybrid business management software, a possible asset for technology giant IBM.

The deal follows IBM's 2021 purchase of software provider Turbonomic for over $1.5 billion and its 2019 acquisition of software company Red Hat for $34 billion.

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