San Francisco, June 26 (SocialNews.XYZ) Tech major IBM on Monday announced it is acquiring Apptio, a leader in financial and operational IT management and optimisation (FinOps) software, for $4.6 billion in an all-cash deal.
The acquisition will accelerate the advancement of IBM's IT automation capabilities and enable enterprise leaders to deliver enhanced business value across technology investments.
IBM CEO and Chairman Arvind Krishna said that Apptio's offerings combined with IBM's IT automation software and watsonx AI platform, “gives clients the most comprehensive approach to optimise and manage all of their technology investments".
Apptio, together with IBM's IT automation software and it's watsonx AI platform, will help businesses around the world manage and optimise enterprise IT spend and derive tangible financial value and operational improvement.
“Our customers are evolving to a complex digital-first, hybrid world where technology investments are distributed and decentralized but all innovation must be aligned with clear business outcomes," Apptio co-founder and CEO Sunny Gupta said.
“We are so excited to be joining IBM and combining our industry leading offerings with IBM's global presence and strong portfolio across AIOps, automation and hybrid cloud offerings,” he added.
The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the latter half of 2023.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz