According to Wall Street Journal, IBM is nearing a deal to acquire software company Apptio from Vista Equity Partners, for about $5 billion in an all-cash deal.

The deal would reportedly give IBM access to Apptio’s cloud-based IT management software, which helps businesses track and optimize their IT spending, and bolster its cloud and automation offerings.

According to IBM, Apptio’s software helps companies manage their IT work across different clouds and service providers. While IBM’s CEO, Arvind Krishna, believes that by combining Apptio’s offerings with IBM’s IT automation software and WatsonX AI platform, clients can effectively optimize and manage all their technology investments. Krishna emphasized the importance of optimizing investments to drive better business value in a rapidly changing technological landscape.

The acquisition is expected to close in the second half of 2023, pending regulatory approvals.

The sources for this piece include an article in Reuters.