International Business Machines (NYSE: IBM) has a knack for using acquisitions to bolster its growth businesses. The tech giant occasionally goes big, as it did with the $34 billion acquisition of Red Hat in 2019, but most of its acquisitions are smaller.

Most recently, IBM shelled out $4.6 billion for financial and operational IT management and optimization software provider Apptio. Apptio's products can help IBM's clients keep cloud spending under control as they modernize their IT infrastructures.

IBM announced on Monday that it's following up the Apptio acquisition with another significant purchase. The company has agreed to acquire StreamSets and webMethods, two products that comprise what current owner Software AG calls a "super integration platform-as-a-service." The deal will cost IBM about $2.3 billion and be funded from the company's available cash on hand.

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Source Fool.com