Information technology cost optimization specialist Apptio Inc. today announced that it has acquired Targetprocess, the maker of a software platform that helps companies plan and carry out business investments using agile methodology.

The deal’s financial terms were not disclosed.

Agile methodology, usually referred to simply as agile, is a popular collection of project management practices used in software development. It places a particular emphasis on the ability to adapt to changing project requirements and ensuring efficient collaboration between development teams. Enterprises are increasingly applying agile to areas beyond software development, including planning their IT investments, which is the driver behind Apptio’s purchase of Targetprocess.

Apptio provides software that large organizations use to track how much they spend on IT resources such as cloud infrastructure and optimize their expenses. The company’s customer base includes more than 60 of the Fortune 100. Apptio went public in 2016 and was taken private by Vista Equity Partners for about $1.94 billion two years later.

Targetprocess, in turn, provides an agile planning platform that companies can use to apply agile methodology to their technology investments. Using data visualizations, executives can set business objectives for each investment and track how effectively their teams are meeting those objectives. Targetprocess also makes it possible to compare the amount spent with the original budget to identify potential cost overruns.

Targetprocess’ data visualizations double as a means of sharing information with stakeholders. Collaboration features, including a built-in commenting system, enable the stakeholders involved in a project to exchange feedback. 

“Agile represents an incredibly powerful set of software development practices but its dynamic and continual nature leads to complex ongoing challenges in planning resource investments, optimizing those investments, and measuring the value they deliver,” said Scott Chancellor, Apptio’s chief product and technology officer. “As a result of the large-scale shift to remote working in the past year, it is more important than ever to solve these challenges.”

The acquisition will enable Apptio to offer a more end-to-end value proportion for enterprises. The company can now help its customers track and reduce their IT costs, as well as provide them with an expanded set of tools for planning future investments.

Targetprocess, based in Belarus, raised a $5 million funding round two years ago. The company disclosed at the time that it had more than 100 employees supporting over 1,000 clients worldwide.

Apptio plans to integrate Targetprocess with its suite of IT finance applications. As a first step, it will relaunch the company’s namesake agile planning platform under the brand Apptio Targetprocess.

Eugene Khvostov, vice president of product and engineering at Apptio, talked in December with SiliconANGLE Media’s video studio theCUBE on how the company helps organizations control and manage their cloud costs:

Photo: Apptio