IBM Acquires Apptio for $46 Billion to Advance Hybrid Cloud Strategy
Substantial Investment in Hybrid Cloud Solutions
ARMONK, N.Y. – October 10, 2023 – IBM NYSE: IBM today announced the completion of its acquisition of Apptio, a leading provider of technology business management (TBM) software. The acquisition, valued at $46 billion in cash, is a significant investment by IBM in the rapidly growing hybrid cloud market.
Strengthening IBM's Hybrid Cloud Portfolio
Apptio's TBM software provides organizations with deep visibility into their IT costs, usage, and performance. This information enables businesses to optimize their IT investments and make informed decisions about their hybrid cloud strategies. By integrating Apptio's capabilities into its portfolio, IBM will enhance its ability to deliver comprehensive hybrid cloud solutions to its clients.
"Hybrid cloud is the future of enterprise IT, and Apptio is a key player in this market," said Arvind Krishna, Chairman and CEO of IBM. "This acquisition strengthens IBM's position as a leading provider of hybrid cloud solutions, enabling our clients to optimize their IT investments and drive digital transformation."
Benefits for IBM Clients
The acquisition of Apptio will provide a number of benefits to IBM clients, including:
- Enhanced visibility into IT costs and usage
- Improved decision-making around IT investments
- Optimized hybrid cloud strategies
- Accelerated digital transformation
IBM expects the acquisition to be immediately accretive to its earnings and to contribute significantly to its revenue growth in the future. The company is committed to integrating Apptio's technology and team into its operations as quickly and seamlessly as possible.
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