Apptio Completes Acquisition of SaaSLicense

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Apptio, Inc. today announced the acquisition of SaaSLicense

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“SaaS represents the largest and most vendor-diverse category of cloud spend with growth that has dramatically accelerated during the pandemic,” said Scott Chancellor, chief product and technology officer at Apptio. “Our customers urgently need and deserve a solution that enables them to manage their SaaS spend as efficiently and effectively as they are able to manage their IaaS and PaaS spend via our Cloudability offering. With this acquisition, Apptio meets this critical customer need and extends our industry-leading capabilities that enable comprehensive visibility, analysis, optimization, and planning of technology spend across all delivery models, including cloud, on-premises, and hybrid.”
SaaS has become the preferred licensing model for applications. Gartner reported that “worldwide IT spending is projected to total $3.9 trillion in 2020, an increase of 3.4 percent from 2019. Software is expected to be the fastest-growing market this year, reaching double-digit growth at 10.5 percent. Almost all of the market segments with enterprise software are being driven by the adoption of software as a service (SaaS).”*Kirkland & Ellis LLP served as the legal advisor to Apptio to support the acquisition.*Gartner Press Release, “Gartner Says Global IT Spending to Reach $3.9 Trillion in 2020,” 15 January 2020.About ApptioApptio’s …

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