Business management software developer company Apptio has entered into a definitive agreement to be acquired by an affiliate of investment firm Vista Equity Partners. Under the terms of the agreement, Vista will acquire all outstanding shares of Apptio common stock for a total value of approximately $1.94 billion.
The Apptio board has unanimously approved the deal, the companies said in a statement. The transaction is expected to close in Q1 2019, subject to customary closing conditions, including the approval of Apptio shareholders and antitrust approval in the United States.
Qatalyst Partners is serving as the exclusive financial advisor to Apptio and Wilson Sonsini Goodrich & Rosati is serving as legal advisor to Apptio. Vista’s legal advisor is Kirkland & Ellis.
[Image courtesy: Apptio]