A deal for IBM (IBM.N) to acquire the software business Apptio for approximately $5 billion is reportedly getting close, as the Wall Street Journal reported on Friday, which cited people familiar with the situation.
According to the Journal’s report, a deal between the corporations might be finalized over the weekend. The publication added that it was unknown whether the acquisition price included debt.
The company IBM did not respond to the report. Reuters’ request for comment was not immediately met with a response from Apptio.
Apptio is a software provider that offers cloud-based and hybrid company management software. 2018 Vista Equity Partners paid $1.94 billion to take Apptio private. IBM, a global leader in technology, may acquire Apptio as an asset.
This transaction follows IBM’s 2019 acquisition of software business Red Hat for $34 billion and its 2021 purchase of software supplier Turbonomic for over $1.5 billion.
