IBM to buy software firm Apptio for $4.6 bn to bolster cloud offering

IBM said on Monday it will acquire cloud software company Apptio from Vista Equity Partners for $4.6 billion in cash, in the latest deal to bolster its capabilities in cloud and automation.

Shares of IBM were marginally lower in premarket trading.

IBM said it will finance the transaction with cash on hand and expects the deal to close in the latter half of 2023.

The deal…