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Apptio closes nearly $2 billion deal despite shareholder lawsuits

Ashley Stewart

Bellevue-based IT automation software company Apptio has closed its nearly $2 billion sale to Vista Equity Partners despite pending shareholder lawsuits. The first lawsuit, filed Dec. 6 in the U.S. District Court of Delaware seeking class-action status, alleges Apptio and its directors omitted information about the proposed deal in a proxy statement, including projected financial information and whether the company entered into any non-disclosure agreements. The omissions, the shareholder alleged in the Dec. 6 lawsuit, made the proxy statement false and misleading.