IBM said Thursday that it officially completed its all-cash $4.6 billion acquisition of Apptio, the Bellevue, Wash.-based cloud and IT management company.
- The deal, announced in June, comes less than five years after Vista Equity Partners acquired Apptio for $1.9 billion, and seven years after Apptio went public at a valuation of $525 million.
- Apptio has more than 1,400 employees, about a quarter of them in the Seattle area, and the company’s employee base is expected to “increase significantly” after the IBM deal closes, in locations including Bellevue, Apptio CEO Sunny Gupta told GeekWire in June.
- Apptio’s software-as-a-service technology helps corporate and IT leaders understand and manage their cloud and tech spending. The company’s annual revenue has grown to more than $400 million and it has more than 15,000 corporate customers.
Previously: From idea to IPO to IBM: How Apptio defied the skeptics on its 16-year journey to a $4.6B deal
