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Vista is acquiring Washington based Apptio for $1.94 billion

Tech focused private equity firm Vista has reached a deal to acquire Washington based enterprise software company Apptio for $38.00 a share, amounting to $1.94 billion of total value and a 53% premium to the company's unaffected closing price as of November 9, 2018.

Apptio's headquarters will remain in Bellevue, Washington with its regional offices across the globe after the acquisition now subject to customary closing conditions, including the approval of Apptio shareholders and antitrust approval in the United States. The deal is expected to close in the first quarter of 2019.

Apptio was founded in 2007 and develops technology business management software as a service applications. Its enterprise apps are designed to evaluate and make known the cost of IT services for planning, forecasting and budgeting purposes. It notably stands as the first investment made by reputed VC firm Andreessen Horowitz. It raised around $260 million prior to an IPO which took place in 2016, prec…

Apple unveils $300 million Clean Energy Fund for China

     Apple

Major consumer electronics company Apple in a bid to expand its environmental efforts has now announced a new Clean Energy investment fund in the Chinese region amounting to a total of about $300 million which will be used to fund and develop clean energy products "totaling more than 1 gigawatt of renewable energy in China, the equivalent of powering nearly 1 million homes." as announced by Apple.

Apple will be investing the huge amount along with 10 initial suppliers into the newly established China Clean Energy Fund which will connect suppliers to renewable energy sources and stands as part of Apple's efforts to address climate change through the use of renewable energy within its vast supply chain.

Apple notably has been a major user of renewable energy with the company using 100% renewable energy currently across its facilities and is making this effort in order to enable smaller companies which are part of its supply chain get better leverage in transforming to clean energy.





Lisa Jackson, Apple’s vice president of Environment, Policy and Social Initiatives issued a statement on this investment saying  ”At Apple, we are proud to join with companies that are stepping up to address the climate challenge,”She continued “We’re thrilled so many of our suppliers are participating in the fund and hope this model can be replicated globally to help businesses of all sizes make a significant positive impact on our planet.” 

Apple first unveiled a Supplier Clean Energy Program in 2015 and since then has gotten 23 manufacturing partners across 10 countries committed to powering their production with 100% clean energy.

The initial suppliers joining Apple's efforts include:

  •     Catcher Technology
  •     Compal Electronics
  •     Corning Incorporated
  •     Golden Arrow
  •     Jabil
  •     Luxshare-ICT
  •     Pegatron
  •     Solvay
  •     Sunway Communication and Wistron who are all major global manufacturing companies with its commitment standing as a good increase in the global adaptation of Renewable energy production.



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