Vista Equity acquired Apptio, a Bellevue, Washington-based company founded in 2007 that develops technology business management software as a service applications, for $1.94bn. Apptio shareholders will receive $38.00 in cash per share, representing a 53% premium to the unaffected closing price as of November 9, 2018. "Today, with companies across sectors increasingly depending on technology to stay competitive, IT is becoming a critical component for every business on the planet, and Apptio has created the leading platform to help customers manage this new paradigm," said Brian Sheth, co-founder and president of Vista. "We're thrilled to partner with Sunny and the entire Apptio team on the next chapter in the company's growth."