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☆ Activist fund Anson takes Twilio stake, urges board to sell
▼ + stars: | 2023-11-28 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Activist investor Anson Funds has built a stake in Twilio and sent a letter to the enterprise software company's board pushing for the sale of the entire business, a person familiar with the matter told CNBC. The letter to the board urges Twilio to either sell itself or at a minimum, divest its data and applications business, the person familiar said. "Twilio regularly engages with shareholders and appreciates constructive input that furthers our goal of creating sustainable long-term value," a Twilio spokesperson told CNBC in a statement. The continued activist attention caps off a challenging year for Twilio, which makes software that helps businesses engage with their customers. In March, Silver Lake and CPP Investments announced a deal to take survey software company Qualtrics private in a $12.5 billion deal.

Persons: Jeff Lawson, Anson, Twilio, Sagar Gupta, Gupta Organizations: Twilio Inc, New York Stock Exchange, CNBC, Legion Partners, The, Twilio, Communications, Tech, Investments, IBM, Cisco, CNBC PRO Locations: New York, Twilio, Silver

REUTERS/Brian Snyder/File photo Acquire Licensing RightsOct 25 (Reuters) - IT software and consultancy services provider IBM (IBM.N) reported third-quarter revenue slightly above Wall Street targets on Wednesday, buoyed by stable demand for its software solutions and a stronger-than-expected mainframe business. Shares of the Armonk, New York-based company rose 2% in trading after the bell. While the company has seen a slowdown in the growth of its overall business compared to last year, it reiterated its annual target for revenue growth and free-cash-flow generation. Revenue at its software segment, which now includes newly acquired IT budgeting software maker Apptio, rose nearly 8%, excluding the impact from a strong dollar. IBM's revenue in the third quarter rose about 5% to $14.8 billion, compared to an estimate of $14.73 billion, according to LSEG data.

Persons: Brian Snyder, Ernst &, James Kavanaugh, Chavi Mehta, Pooja Desai Organizations: REUTERS, IBM, Ernst & Young, Reuters, Big, Revenue, Thomson Locations: Cambridge , Massachusetts, U.S, , New York, United States, Bengaluru

☆ IBM software sales up 8% as the company beats on top and bottom lines
▼ + stars: | 2023-10-25 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

IBM shares rose about 1% in extended trading Wednesday after the technology conglomerate announced third-quarter results that exceeded Wall Street estimates. The company's Software unit produced $6.27 billion in revenue. IBM's Consulting division generated $4.96 billion in revenue, up around 6% but lower than StreetAccount's consensus of $5.11 billion. "We still are executing extremely well from my point of view in consulting," Jim Kavanaugh, IBM's finance chief, told CNBC's Kristina Partsinevelos in an interview. During the quarter IBM released Granite generative artificial-intelligence models for composing and summarizing text.

Persons: Arvind Krishna, IBM's, Jim Kavanaugh, CNBC's Kristina Partsinevelos, Kavanaugh Organizations: IBM, Wall, LSEG, StreetAccount, IBM's Consulting, Accenture, Infrastructure, Vista Equity Partners Locations: New York

☆ Earnings playbook: How to trade a busy week of reports from companies including Microsoft and Meta
▼ + stars: | 2023-10-22 | by ( Fred Imbert | ) www.cnbc.com time to read: +12 min

Tuesday General Motors is set to report earnings before the bell, followed by a call at 8:30 a.m. Coca-Cola is set to report earnings in the premarket, with a call slated for 8:30 .am. Wednesday Boeing is set to report earnings in the premarket, with leadership scheduled to hold a call at 10:30 a.m. Ford Motor is set to report earnings after the bell, followed by a conference call at 5 p.m. This quarter: The e-commerce giant is expected to report earnings per share growth of more than 100%, according to LSEG.

Persons: Michael Wayland, they'll, Andrea Teixeira, MSFT, Jordan Novet, GOOGL, Justin Post, MRK, Goldman Sachs, Chris Shibutani, Keytruda, Ford, AMZN, Doug Anmuth, — CNBC's Michael Bloom Organizations: Big Tech, Microsoft, Meta, Wall, CNBC, GM, LSEG, United Auto Workers, Investment Group, Coca, U.S, Activision, Wednesday Boeing, Boeing, Management, Bank of America, IBM, Merck, Ford, UAW, Detroit, JPMorgan Locations: Missouri, EVs, China, Apptio

Jefferies analysts wrote in a note the Federal Reserve putting the brakes on interest rate hikes has given acquirers more certainty around their funding costs, helping dealmaking. Cisco's deal valued Splunk at 7 times projected 12-month revenue, according to Jefferies. "We note that the typical security company with 20% growth trades at about 7 times (sales)," BTIG analysts wrote in a note last week. Private software companies may also be more receptive to takeovers. "A tidal wave of software M&A (is) on the horizon," Wedbush analysts wrote in a note last week.

Persons: Chuck Robbins, David Chen, Morgan Stanley, Chen, Jefferies, Keith Skirbe, Houlihan Lokey's, Milana Vinn, Anirban Sen, Anna Driver Organizations: Cisco Systems, Cisco, Crowdstrike Holdings, Microsoft, Adobe, Oracle, Francisco Partners, TPG Inc, Federal Reserve, IBM, Reuters Graphics Reuters, Jefferies, Thomson Locations: New York

☆ IBM sells weather business to private equity firm Francisco Partners
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 22 (Reuters) - International Business Machines (IBM.N) has agreed to sell its weather business to private equity firm Francisco Partners for an undisclosed sum, the technology services giant said on Tuesday. IBM will retain its sustainability software business. The Big Blue said Tuesday it plans to continue using The Weather Company's weather data for its software offerings focused on environmental insights. Francisco Partners did not immediately respond to a request for comment. The deal with Francisco Partners is expected to close in the first quarter of 2024 and is subject to regulatory approval.

Persons: Brendan McDermid, Rob Thomas, Arsheeya, Pooja Desai Organizations: IBM, New York Stock Exchange, REUTERS, Business Machines, Francisco Partners, Storm, NASA, Street Journal, Thomson Locations: New York, U.S, Watsonx, Bengaluru

☆ Earnings playbook: Netflix and Tesla are set to report this week as reporting season ramps up
▼ + stars: | 2023-07-16 | by ( Fred Imbert | ) www.cnbc.com time to read: +8 min

Tuesday Bank of America is set to report earnings before the bell, followed by a call at 8:30 a.m. Morgan Stanley is set to report earnings in the premarket, with a conference call slated for 9:30 a.m. Wednesday Goldman Sachs is set to report earnings before the market opens, followed by a call at 9:30 a.m. Tesla is set to report earnings after the close, with a call slated for 5:30 p.m. What history shows: Netflix earnings have exceeded earnings expectations in seven of the last 10 quarters, FactSet data shows.

Persons: Wells, Keith Horowitz, Morgan Stanley, Morgan Stanley's, BofA's Ebrahim Poonawala, Morgan, Goldman Sachs, Marcus, Goldman, UAL, Leslie Josephs, Scott Kirby's, Tesla, Toni Sacconaghi, NFLX, AAL Organizations: Tesla, Netflix, United Airlines, JPMorgan Chase, Citigroup, JPMorgan, Tuesday Bank of America, Refinitiv, CNBC, Bank of America, Citi, Goldman, IBM, Thursday, Airlines, Northeast U.S, JetBlue, Northeast Alliance Locations: America, Wells Fargo, Newark, Northeast

☆ IBM to buy software co Apptio for $4.6 bln to bolster cloud offering
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

June 26 (Reuters) - IBM (IBM.N) said on Monday it will acquire cloud software company Apptio from Vista Equity Partners for $4.6 billion in cash, in the latest deal to bolster its capabilities in cloud and automation. IBM said it will finance the transaction with cash on hand and expects the deal to close in the latter half of 2023. IBM cut about 3,900 jobs early this year and reported under 1% year-over-year increase in revenue in the March quarter. Founded in 2007, Seattle-based Apptio helps companies manage and understand their spending on cloud services and offers functionalities such as IT budgeting, forecasting and financial analyses. Private equity firm Vista Equity Partners agreed to pay about $2 billion for Apptio in 2018, which was over double its market cap at the time.

Persons: Apptio, Yuvraj Malik, Krishna Chandra Organizations: IBM, Vista Equity Partners, Hat, Kyndryl Holdings, Apptio, Thomson Locations: Amazon.com's, Seattle, Bengaluru

☆ IBM to acquire software company Apptio for $4.6 billion
▼ + stars: | 2023-06-26 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

IBM CEO Arvind Krishna speaks at a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 17, 2023. IBM on Monday announced it will acquire the software company Apptio from Vista Equity Partners for $4.6 billion. IBM said in a release that Apptio will help it advance its application management, optimization and observability offerings. "Technology is changing business at a rate and pace we've never seen before," IBM CEO Arvind Krishna said in the release. Apptio will be acquired with cash, and IBM said the deal is expected to close in the latter half of this year.

Persons: Arvind Krishna, Apptio, we've Organizations: Economic, IBM, Monday, Vista Equity Partners, Microsoft, Google Locations: Davos, Switzerland

☆ IBM's Rob Thomas on acquiring Apptio: A perfect time to do this
▼ + stars: | 2023-06-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIBM's Rob Thomas on acquiring Apptio: A perfect time to do thisRob Thomas, chief commercial Officer at IBM, joins ‘Squawk on the Street’ to discuss their announcement to acquire the software company Apptio from Vista Equity Partners for $4.6 billion and more.

Persons: Rob Thomas, Squawk Organizations: IBM, Vista Equity Partners

☆ IBM nears $5 billion deal for software provider Apptio, Wall Street Journal reports
▼ + stars: | 2023-06-24 | by ( ) www.reuters.com time to read: +1 min

June 23 (Reuters) - IBM (IBM.N) is nearing a deal to acquire software company Apptio for about $5 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter. A deal between the companies could be completed over the weekend, the Journal reported, adding that it was unclear whether the purchase price includes debt. Apptio, taken private by Vista Equity Partners in 2018 for $1.94 billion, provides products including cloud-based and hybrid business management software, a possible asset for technology giant IBM. The deal follows IBM's 2021 purchase of software provider Turbonomic for over $1.5 billion and its 2019 acquisition of software company Red Hat for $34 billion. Reporting by Rahat Sandhu in Bengaluru; Editing by Sandra Maler, Diane Craft and William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Apptio, Rahat Sandhu, Sandra Maler, Diane Craft, William Mallard Organizations: IBM, Wall Street, Vista Equity Partners, Hat, Thomson Locations: Bengaluru

☆ IBM nears $5 billion deal for software provider Apptio - WSJ
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: 1 min

Persons: Rahat Sandhu, Sandra Maler Organizations: IBM, Wall Street, Thomson Locations: Bengaluru

☆ Andy Jassy officially starts as Amazon CEO today. Insiders describe his 'CHOP' meetings, micromanagement, and 'Nice' emails.
▼ + stars: | 2021-07-05 | by ( Eugene Kim | Ashley Stewart | ) www.businessinsider.com time to read: +22 min

On July 5, Andy Jassy officially became Amazon CEO, succeeding Jeff Bezos, who steps into the position of executive chairman. When Amazon Web Services CEO Andy Jassy has a big decision to make, it usually comes at the Chop. "If you go to a Chop meeting with Andy, you better be ready," one former senior-level employee told Insider. Though he's one of the longest-serving executives at Amazon and a close confidant of CEO Jeff Bezos, Jassy still remains relatively little-known outside tech circles. Early on in the pandemic, Jassy told AWS employees that "the world is relying on Amazon," according to an email seen by Insider.

Persons: Andy Jassy, Jeff Bezos, Jassy, Andy, —, Dan Ives, Bezos, It's, Jassy's, Steve Ballmer, Satya Nadella, Travis Kalanick, he's, Dave Matthews, Rothschild, Scott Chancellor, who's, let's, Jeff, Taimur Rashid, AWS's, Rashid, it's, Tim Bray, Bray, Marc Benioff, Salesforce, Chancellor, MARK RALSTON, He's, Trump, Donald Trump's, Jeff Wilke, it'll, didn't, Ashley Stewart, Eugene Kim Organizations: Amazon, Amazon Web, Seattle, Charterhouse, Wedbush Securities, Services, AWS, they're, Harvard, New York Times, Redis Labs, Amazon ., Getty, Lawmakers, Defense Department, Microsoft, Black, Google, Netflix, Black Employee Network, African, Lambda, Web Services Locations: Parma, Jassy, manila, Bezos, AFP, DynamoDB

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