IBM nears $5 billion deal for software provider Apptio

IBM (IBM.N) 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.

This report’s information was first seen on REUTERS; to read more, click this link.