International Business Machines Co. (NYSE: IBM) is nearing a deal for the acquisition of Apptio Inc., a cloud-based business software company, for about $5 billion, the Wall Street Journal reported.
Apptio, taken private by Vista Equity Partners in 2019 for about $2 billion, could be a possible asset for technology giant IBM as the former is considered a big player in helping companies manage their spending on technology. Another Vista-backed software company Cvent was sold in July to private equity giant Blackstone for $4.6 billion.
