TechTaffy

tech:

taffy

Apptio acquired by Vista Equity Partners for $1.94 billion

By TechTaffy Desk

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]

Just in

Series A

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.
Around the web

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 
Fundings

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.
Around the web

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 
IT

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.