Abstract. As a result of recent changes in the IT, where the role of IT has shifted from an enabler to an industrial sector in its own right, the necessity to provide framework which would allow seamless alignment of the business and IT rose. The goal was to allow the stakeholders from the business as well as IT perspective to model the requirements for the IT service provisioning using the modeling languages they are familiar with and to apply semantic technologies as a mediator that will allow translation between them. IT-Socket, the model based approach for business and IT alignment, developed in the European Research project -plugIT, aims to realize the vision of businesses "plugging-in" to IT by introducing graphical modeling languages as mediators between the domain experts and IT. The research challenges identified include the ability to perform integration and translation between graphical modeling languages by building the reference ontology, enabling automatic generation of machine interpretable domain ontologies from graphical models and allowing automatic translation between domain ontologies. The results of the application of the ITSocket for business and IT alignment are presented within three use cases: (1) "Certification" of IT infrastructure, (2) "Virtual Organization" by evolving the current service orientation to a higher and more business driven abstraction and (3) "Governance" of IT infrastructure.