IBM Agrees to Pay $5 Billion for Apptio Acquisition

IBM has made an official announcement regarding its definitive agreement with Vista Equity Partners. The agreement entails the acquisition of Apptio Inc. for a total of $5 billion.

IBM Nears Deal Completion

IBM  has decided to acquire Apptio for $5 billion.It will purchase the company from Vista Equity Partners Management LLC, which bought Apptio for $1.94 billion almost five years ago.

The parties are in advanced discussions regarding a potential purchase that may be completed by the weekend.

Established in 2007, Apptio specializes in providing cloud-based technology and hybrid business management software for  managing businesses within the information technology industry.

IBM plans to integrate Apptio with its current IT automation software and AI platform. It also aims to collaborate and offer businesses comprehensive solutions for efficiently managing and optimizing their IT investments.

As reported by TechCrunch, Arvind Krishna, CEO and chairman of IBM, highlighted the pace of technological advancements that businesses face.

He emphasized the importance of optimizing investments to maximize business value, acknowledging Apptio as a leading expert in this domain.

Krishna acknowledged that combining Apptio’s offerings with IBM’s IT automation software and Watson AI platform provides clients with a comprehensive approach to optimizing and managing all their technology investments.

The acquisition brings significant advantages to IBM. It includes a substantial customer base of 1,500 enterprises, comprising over 50% of the Fortune 100 companies.

Additionally, it provides important existing integrations and partnerships necessary for operating in the enterprise cloud services sector, including Amazon Web Services, Microsoft Azure, Google Cloud Platform, Salesforce, ServiceNow, Oracle, and SAP.

Given the possibility of shared clients between IBM and Apptio, this acquisition will enable IBM to expand its offerings and provide additional services to these clients.

IBM Expands Its Reach

IBM is undergoing a strategic transformation to focus on hybrid cloud and artificial intelligence ventures.

In a significant move in 2019, the tech company acquired software provider Red Hat for approximately $35 billion, aiming to strengthen its cloud computing business.

Recent years have seen IBM divest or spin off various businesses, including Kyndryl Holdings, a major player in IT infrastructure and data center management.

In 2022, the firm completed the sale of its healthcare data and analytics assets associated with IBM Watson Health, highlighting the challenges faced by AI in the healthcare sector.

Additionally, reports suggest that IBM is exploring the sale of its weather operations, including The Weather Company’s B2B, mobile, and cloud-based businesses like Weather.com.

Related News

  • EU Regulator To Launch MiCA Consultation Starting July – Here’s Why
  • Tamadoge Successfully Launched On ByBit – Is TAMA Getting Ready To 20X?
  • Binance Launches Bitcoin Mining Cloud Service Despite SEC Regulatory Pressure

Comments

Post a Comment

Popular posts from this blog

Tax Strategy for XRP: Lawyer Urges Caution Before Dipping for Altcoins

Jeremy Hogan advises crypto holders to be cautious of crypto tax as they optimize for profit in the bull run. He pointed out the tax advantages of not liquidating XRP held for over a year. Per the lawyer, long-term capital gains incur a lower 15% tax rate than the higher 30% rate for short-term gains. Prominent legal expert Jeremy Hogan, Partner at ‘Hogan & Hogan’ has offered counsel to crypto holders, urging caution in the disposition of their XRP assets. In a recent post on X, Hogan shared guidance with crypto investors looking to maximize their tax efficiency amid the anticipated crypto bull market. The lawyer’s counsel targeted crypto enthusiasts based in the United States. He advised considering the tax obligation on their crypto investment from the angle of the duration of the token holdings. Hogan pointed out that maintaining a token for over a year could result in a more advantageous tax scenario. He noted that long-term capital gains, applicable ...
Read more

Bitbot gears up for presale amid uncertainty ahead of first BTC options expiry post ETF approval

BTC options expiry reveals short-term volatility post ETF approval. Bitbot’s presale on Jan 17 promises unprecedented excitement with self-custodial solutions. With a total supply of 1 billion tokens, Bitbot aims for a $1B market cap and top listings. As 2024 signals the potential start of a new bull run, the crypto market is buzzing with excitement. The recent Bitcoin ETF approval sparks short-term volatility, while Bitbot, a revolutionary Telegram trading bot, gears up for its token presale on January 17. In this article, we delve into the first anticipated Bitcoin options expiry post Bitcoin ETF approval and the upcoming Bitbot presale , exploring the potential for exhilarating opportunities in the evolving crypto landscape. First BTC Options expiry post Bitcoin ETF approval The approval of the Bitcoin Spot ETF on Wall Street has set the stage for unprecedented market movements. Despite the historical significance, Bitcoin’s price exhibit...
Read more

MicroStrategy’s Saylor Sells $216M of His Shares to Buy More Bitcoin

MicroStrategy’s executive chairman, Michael Saylor, is selling $216 million worth of company shares. Saylor plans to use the proceeds to expand his personal Bitcoin holdings. The sell-off began with 5,000 shares on January 2, with 5,000 shares scheduled to be sold every trading day for the next four months. MicroStrategy‘s executive chairman, Michael Saylor, has begun selling $216 million worth of his shares in the company. The decision reveals Saylor’s intention to utilize part of the proceeds to expand his personal Bitcoin holdings. Saylor, a prominent advocate for cryptocurrency adoption, unveiled this plan in a filing with the U.S. Securities and Exchange Commission (SEC). The regulatory filing reveals that Saylor is selling 315,000 MicroStrategy shares acquired via stock options. 310,000 of these were granted in 2014 and are set to expire in April of this year. Saylor has already begun the sell-off, initiating the process with the sa...
Read more