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IBM To Buy Software Provider Apptio For $5 Billion

 |  June 24, 2023

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

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.

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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 Turbonomicfor over $1.5 billion and its 2019 acquisition of software company Red Hatfor $34 billion.