(Reuters) – 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.
Mastercard, SimpliFi to enable innovative B2B payment solutions across MENA, Pakistan
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.
- AI Takeover – Amazon CEO Predicts Major Job Cuts from Efficiency Gains
- DHL Group Announces €2 Billion Global Investment in Healthcare Logistics
- BYD Sells 382,476 NEVs in May, Overseas Sales Soar 137% to New Record
- Cybernet and Nokia redefine Pakistan’s network landscape with 1.2T-per-lambda backbone
- Temu and Shein will raise prices for US customers due to Trump’s tariffs
