June 26, 2023
At a Glance
- IBM is buying FinOps SaaS provider Apptio for $4.6 billion in cash.
- Apptio serves more than half of Fortune 100 companies.
- Apptio helps IT departments manage their spending. This data will be used to augment IBM's watsonx capabilities.
IBM said today that it is acquiring FinOps software provider Apptio for $4.6 billion to further bolster its hybrid cloud and AI capabilities.
Apptio’s SaaS offerings enable technology departments to manage their spending across hybrid and multi-cloud environments, workforce and related areas. Combined with IBM’s IT automation software and watsonx AI platform, Apptio’s capabilities will help Big Blue clients optimize enterprise IT spending and improve operations.
IBM said Apptio’s clients include more than half of Fortune 100 companies and integrates with the major hyperscalers (AWS, Azure, GCP) as well as Salesforce, ServiceNow, Oracle and SAP.
Apptio’s three core offerings are ApptioOne, which is a hybrid cloud spend management system, Apptio Cloudability for public cloud spend management and Apptio Targetprocess for agile investment planning.
IBM said Apptio brings $450 billion of anonymized IT spending data. This data will be used to augment watsonx, IBM’s AI and data platform for the enterprise the offers a studio for foundation models, generative AI and machine learning; a data store; and governance toolkit.
Meanwhile, Apptio gets access to IBM’s reach across 175 countries.
IBM is acquiring Apptio from Vista Equity Partners. The all-cash transaction is expected to close later this year, pending regulatory approvals.
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