International Business Machines Corporation completed the acquisition of Apptio, Inc. from Vista Equity Partners Management, LLC for $5 billion.
August 09, 2023
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International Business Machines Corporation (NYSE:IBM) entered into a definitive agreement to acquire Apptio, Inc. from Vista Equity Partners Management, LLC for $4.6 billion on June 26, 2023. Apptio will be acquired with available cash on hand. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the latter half of 2023.
Stuart Casillas, Brittany Sakowitz, Christian Atwood, David Kung, Heidi Yuen, Doug Tedeschi, John Lynn, Daisy Darvall and Rohit Nafday of Kirkland & Ellis acted as legal advisors to Vista Equity Partners in the transaction. Steven Williams, Laura Turano, Scott Barshay, Amanda Gill, Caith Kushner, Jason Tyler, Jonathan Ashtor, Jarrett Hoffman, Peter Fisch, Scott Sontag, Sohail Itani and Marta Kelly of Paul, Weiss acted as legal advisors to IBM in the transaction. Wells Fargo Corporation acted as financial advisor for International Business Machines Corporation. HSBC Securities (USA) Inc. acted as financial advisor to Vista Equity Partners Management, LLC.
International Business Machines Corporation (NYSE:IBM) completed the acquisition of Apptio, Inc. from Vista Equity Partners Management, LLC for $5 billion on August 10, 2023. IBM also received all required regulatory approvals. IBM assumed $415 million of liabilities of Apptio.
International Business Machines Corporation (IBM) is one of the world's leading computer services companies. Net sales break down by activity as follows:
- cognitive solutions and transaction processing software development (41.4%);
- IT services (31.6%): consulting (management of logistic chains, financial performance, CRM, human resources, etc.), application management, systems integration, cloud computing, hosting, technical support services, etc.;
- sale of IT infrastructure (25.3%): hybrid IT infrastructure solutions, microcomputers, servers, peripheral devices, networks, data storage equipment, etc.;
- financing of computer equipment (1%);
- other (0.7%).
Net sales are distributed geographically as follows: the United States (41.5%), Americas (9.8%), Europe/Middle East/Africa (29.7%), Japan (9%) and Asia/Pacific (10%).
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