IBM on Monday confirmed the $4.6 billion purchase of software company Apptio, giving the tech giant greater automation capabilities.
IBM will buy Apptio from Vista Equity Partners, which took the company private back in early 2019.
IBM is looking at starting the week with a $5 billion deal for software company Apptio, according to the Wall Street Journal.
The software company provides tools to help companies keep track of the software and services they use, and better manage costs.
Among its customers are financial giants Allstate and Bank of America, according to Apptio's website.
IBM CEO Arvind Krishna has sharpened the company’s focus on areas including hybrid-cloud and quantum computing. (Reuters Photos)
IBM is transforming itself into a company focused on the hybrid cloud and artificial intelligence businesses.
IBM CEO Arvind Krishna has sharpened the company’s focus on areas including hybrid-cloud and quantum computing.
In April, IBM reported first-quarter revenue of $14.3 billion, up slightly from the prior year.
IBM recorded software revenue of $5.9 billion, up 2.6% year-over-year.
FOX Business has reached out to IBM for comment.