IBM agreed to acquire Apptio, a start-up specializing in financial and operational IT management and optimization (FinOps) software, for $4.6 billion.
IBM said the acquisition will accelerate the advancement of its IT automation capabilities and enable enterprise leaders to deliver enhanced business value across technology investments.
Apptio has three core SaaS offerings:
- ApptioOne: Hybrid cloud spend management and optimization capabilities to analyze, optimize and plan IT spend and value. ApptioOne is used to establish repeatable and accurate planning and financial management processes, delivering actionable insights around cost and utilization, while benchmarking against industry peers for continuous optimization.
- Apptio Cloudability: Public cloud spend management visibility and optimization capabilities, connecting multi-cloud and SaaS infrastructure with cloud financial management best practices to maximize the value of clients' cloud strategy.
- Apptio Targetprocess: Agile investment planning capabilities to align development resources to business outcomes, plan and track value delivery for projects or products.
Apptio claims over 1,500 clients and key partnerships and integrations with Amazon Web Services, Microsoft Azure, Google Cloud Platform, Salesforce, ServiceNow, Oracle and SAP.
"Technology is changing business at a rate and pace we've never seen before. To capitalize on these changes, it is essential to optimize investments which drive better business value, and Apptio does just that," said Arvind Krishna, CEO and chairman, IBM. "Apptio's offerings combined with IBM's IT automation software and watsonx AI platform, gives clients the most comprehensive approach to optimize and manage all of their technology investments."
