Vista Reportedly Nears Deal To Buy Software Firm Apptio For $1.9 Bln

(RTTNews) - Tech-focused private-equity firm Vista Equity Partners is near a deal to take software company Apptio Inc. private for $1.9 billion, the Wall Street journal reported citing people familiar with the matter.

A deal could be announced as soon as Monday, with shareholders of Apptio APTI, -3.35% receiving $38 a share, the report said. That would represent a 53% premium to Friday's closing price of $24.85.

The purchase price would land below Apptio's all-time closing high of $41.23, hit about two months ago. Its shares have fallen recently as part of a broader slide in technology stocks. In late October, Apptio reported third-quarter results that included weaker-than-expected billings, further pressuring its shares.