NEW YORK - IBM has agreed to acquire Turbonomic, a provider of software that helps companies monitor the performance of their business applications, people familiar with the matter said on Thursday.

The deal, IBM's largest since its acquisition of open-source software company Red Hat for $34 Billion in 2019, values Turbonomic at between $1.5 billion and $2 billion, said the sources, who requested anonymity ahead of an official announcement.

The transaction is IBM's 11th acquisition since Arvind Krishna became CEO last year. Turbonomic provides companies with software to boost the performance and compliance of their applications in real time.

  - Reuters