Published Jun 23, 2023 07:58PM ET Updated Jun 23, 2023 09:40PM ET© Reuters. REUTERS/Nacho DoceIBM -1.33% Add to/Remove from Watchlist(Reuters) -IBM is nearing a deal to acquire software company Apptio for about $5 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter. A deal between the companies could be completed over the weekend, the Journal reported, adding that it was unclear whether the purchase price includes debt. Apptio, taken private by Vista Equity Partners in 2018 for $1.94 billion, provides products including cloud-based and hybrid business management software, a possible asset for technology giant IBM. The deal follows IBM's 2021 purchase of software provider Turbonomic for over $1.5 billion and its 2019 acquisition of software company Red Hat for $34 billion.

Source: Wall Street Journal June 24, 2023 00:20 UTC