IBM 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.
Related: IBM & Adobe In Partnership With Generative AI Focus
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 Turbonomicfor over $1.5 billion and its 2019 acquisition of software company Red Hatfor $34 billion.
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