IBM has closed its Apptio acquisition, taking it one step closer toward its hybrid cloud goals.

Apptio’s products are designed to help companies track their spending across cloud platforms. Given IBM’s efforts to transform itself into a hybrid cloud company, the acquisition fits in with Big Blue’s long-term plans. IBM announced a $4.6 billion acquisition deal in June 2023.

According to the company, the deal has gone through, and Apptio is now part of IBM.

“The combination of Apptio products and IBM’s IT automation portfolio will give businesses a 360-degree technology management platform they can use to optimize and automate decisions across their IT landscapes,” said Rob Thomas, Senior Vice President, Software and Chief Commercial Officer, IBM. “We are bringing together market-leading and best-in-class solutions to continue to reshape IT from a cost center to a true competitive advantage, powered by automation and AI.”

“Our journey with Apptio is a testament to Vista’s ability to create consistent outcomes that drive value for our stakeholders,” said Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners. “We are proud of our continued momentum, even amidst these challenged market conditions, and look forward to seeing how Apptio’s technology will bolster IBM’s IT automation and AI capabilities in the years ahead. It’s been an honor to partner with a visionary founder like Sunny and we wish the entire Apptio team the best in the next phase of their growth with IBM.”