Cloud management software provider Apptio is going private in a $1.9 billion acquisition by Vista Equity Partners that comes just over two years after its IPO, according to this report from Reuters. The deal represents a 53% premium for Apptio shareholders and was announced shortly after SAP revealed its $8 billion purchase of cloud software provider Qualtrics on Sunday. Apptio sells software that companies use to keep track of costs when buying from multiple cloud providers.
The Apptio and Qualtrics deals, which followed IBM’s $34 billion acquisition of Red Hat earlier this month, highlight investors’ growing appetite for enterprise software companies. Cloud software companies DocuSign, Zscaler and Zuora have also done well since going public earlier this year.