IBM is engaged in advanced negotiations to acquire Apptio, a software company, for a significant sum of approximately $5 billion, as reported by the Wall Street Journal. Apptio, currently under the ownership of Vista Equity Partners, operates in the private sector and was procured by the private equity firm for an estimated $2 billion in 2019. The company specializes in developing software solutions that enable the tracking and management of costs associated with software and services.
Earlier, the same media outlet disclosed that IBM is contemplating the sale of its weather business following the divestiture of Kyndryl Holdings. This strategic move comes as IBM seeks to invigorate its growth trajectory, especially considering its substantial investment of nearly $35 billion in RedHat during 2019. By reassessing its portfolio and exploring new avenues, IBM aims to rejuvenate its overall performance and capitalize on emerging opportunities in the market.