IBM is close to closing with investor Vista Equity Partners Management on the acquisition of cloud-based FinOps specialist Apptio, according to The Wall Steet Journal.
According to the business newspaper, IBM is at an advanced stage with the acquisition of Apptio and the deal could be finalized at any time. The acquisition amount is estimated at $5 billion. With the acquisition, IBM would mainly want to strengthen its hybrid cloud and AI services and solutions.
The current owner of the FinOps specialist is the private investment firm Vista Equity Partners. The investment company bought the company five years ago for $1.94 billion.
Apptio provides a set of business FinOPs cloud applications for analytics purposes. The tools get their data from various financial and operational sources and billing systems. To do so, the cloud-based Apptio in-memory costing platform forms the basis.
Companies get “actionable” insights into their infrastructure, applications and business services through the cost platform. Both from their on-premises systems and cloud-based environments.
Data-driven decision processes
Ultimately, the goal is for customers to use this FinOps technology to develop data-driven decision processes. Based on this, they can further structure their technology spending to achieve business goals.
At the same time, they can also streamline their IT processes required for this, such as cost transparency, benchmarking and improving operational efficiency.