IBM proposes to buy software company Apptio for $5 billion

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! CTOnews.com, June 25 (Xinhua)-- IBM is about to buy software company Apptio from private equity firm Vista Equity Partners for $5 billion, according to the Wall Street Journal.

In January 2019, Vista Equity Partners announced the privatization of Apptio with cash of US $38 per share, or about US $1.94 billion (currently about RMB 13.949 billion). The purchase price announced by IBM is between $45 billion and $5 billion (CTOnews.com Note: currently about RMB 323.55 billion), more than double the price five years ago.

CTOnews.com Note: Apptio was founded in 2007 to sell online services that help manage IT budgeting, forecasting and analysis. Most of the Fortune 100 companies use its products, the company said on its website.

The deal between the two companies could be completed over the weekend, according to the Wall Street Journal, adding that it was not clear whether the purchase price included debt.