IBM has announced that it will pay $4.6 billion in cash to acquire Apptio, a software company that helps customers optimize their IT spending and operations. The deal, which is expected to close in the second half of this year, is part of IBM’s strategy to invest in AI and IT automation software.
Apptio provides tools that enable customers to manage and improve their cloud strategy, as well as their financial and operational IT performance. Apptio has more than 1,500 clients, including some of the biggest tech companies such as Amazon , Microsoft and Google .
IBM said that Apptio will complement its existing offerings in application management, optimization and observability. IBM CEO Arvind Krishna said in a statement that Apptio will help IBM’s customers “capitalize on these changes” in technology that are transforming business.
IBM’s stock rose slightly on Monday after the announcement.
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