Stifel analyst David Grossman made no change to the firm’s Buy rating and $140 price target on IBM after the company announced an agreement to buy Apptio from Visa Equity Partners for $4.6B. The firm tells investors in a research note that Apptio complements IBM’s automation software portfolio, and notes that IBM is historically good at leveraging its global distribution and client base to drive incremental growth and margin of acquired software assets.
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Published first on TheFly
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