According to the Complaint, Apptio, Inc. is the business management system of record for hybrid IT.

This action stems from a Proposed Transaction announced on November 11, 2018, pursuant to which Apptio will be acquired by affiliates of Vista Equity Partners.

On November 9, 2018, Apptio’s Board of Directors (the “Board” or “Individual Defendants”) caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”) with Bellevue Parent, LLC and Bellevue Merger Sub, Inc. Pursuant to the terms of the Merger Agreement, Apptio’s stockholders will receive $38.00 in cash for each share of Apptio common stock they hold.

On November 21, 2018, Defendants filed a Proxy Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

This case was voluntarily dismissed on March 8, 2019.