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IBM close to $5B deal for software provider Apptio: report

Tech giant IBM is reportedly looking to finalize a deal for the software provider Apptio that could have a $5 billion price tag.

IBM is looking at starting the week with a $5 billion deal for software company Apptio.

The tech giant is reportedly close to making the acquisition, according to the Wall Street Journal.

Apptio is owned by private-equity firm Vista Equity Partners.

The buy would give IBM greater automation capabilities.

IBM ANNOUNCES AI PLATFORM WATSONX TO HELP BUSINESSES

The software company provides tools to help companies keep track of the software and services they use, and better manage costs. 

Among its customers are financial giants Allstate and Bank of America, according to Apptio's website.

The two sides were working to finalize the deal, assuming the negotiations don’t fall apart at the last minute. 

IBM REPORTS HIGHEST ANNUAL REVENUE GROWTH IN A DECADE

IBM is transforming itself into a company focused on the hybrid-cloud and artificial-intelligence businesses.

IBM’s chief executive, Arvind Krishna, has sharpened the company’s focus on areas including hybrid-cloud and quantum computing.

In April, IBM reported first-quarter revenue of $14.3 billion, up slightly from the prior year.

IBM recorded software revenue of $5.9 billion, up 2.6% year-over-year.

FOX Business has reached out to IBM for comment.

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