• Loading stock data...
Business Technology

IBM nears $5 billion deal for software provider Apptio, Wall Street Journal reports

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.

IBM declined to comment on the report. Apptio did not immediately respond to Reuters request for comment.

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.

Source : Reuters

GLOBAL BUSINESS AND FINANCE MAGAZINE

GLOBAL BUSINESS AND FINANCE MAGAZINE

About Author

Leave a comment

Your email address will not be published. Required fields are marked *

You may also like

Business

If it doesn’t trade, is it really marketable debt?

When it comes to encouraging fiscal discipline, euro-area policymakers want the market to be part of the solution. This will
Technology

Has the Digital Markets Act got it wrong on app stores?

Apple’s iPhone and Google’s Android mobile operating system dominate the smartphone market. The two companies also control the app stores