The wiki page and links seem good except maybe on history. For that see e.g. Coolidge (1940, pp. 278-282):
§2. Circular transformations.
The point transformations of the plane which carry points on a line
or circle into points on a line or circle, are surely the simplest and most
interesting plane transformations, after the linear ones. The simplest
of these is circular inversion (...)
$$
OP.OP'=r^2,\qquad
x'=\frac{r^2x}{x^2+y^2},\qquad
y'=\frac{r^2y}{x^2+y^2}.
$$
We saw (pp. 64-65) that this transformation was first
mentioned by Pappus, who knew that it carried a line or circle into a
line or circle. It has been discovered subsequently by several writers,
the first being perhaps Steiner (in) an unpublished manuscript (...)
It is truly astonishing what can be accomplished by the use of this
transformation. If two circles intersect they can be inverted into two
straight lines. If they touch they can be inverted into two parallel
lines. If they have no common point we can find two intersecting circles
cutting both of them orthogonally. Hence we may invert the first two
into two circles that cut two intersecting lines orthogonally, i.e. into
two concentric circles. The properties of systems of circles tangent to
two given circles are most easily found by means of these
transformations.
(Thus the relation with Apollonius’s problem.)
Circular inversion is but the simplest of all the transformations that
carry a line or circle into a line or circle. The first writer to undertake
a systematic study of transformations so defined, and by purely
geometric means, was Möbius in his Theorie der Kreisverwandschaft which
appeared in 1855 (:)
Möbius' Theorem 4] Every one-to-one transformation of the Euclidean
plane that carries points of a line or circle into points of a line or circle
can be factored into reflections and inversions and is conformal.
(...) That enables us to write the general analytic form for the transformation
$$
z'=\frac{\alpha z+\beta}{\gamma z+\delta}\qquad\text{(2a)},\qquad
z'=\frac{\alpha \bar z+\beta}{\gamma \bar z+\delta}\qquad\text{(2b)},\qquad
(\alpha\delta-\beta\gamma\ne0).
$$
(i.e. one of two types, where $z=x+iy$; etc.) Earlier Coolidge had written in (1916, p. 22):
This transformation is usually credited to Plücker. See his Analytisch-geometrische Aphorismen, Crelle, vol. xi, 1836. It was rediscovered a decade later by Sir William Thompson, Principe des images électriques, Liouville, vol. x, 1845. The most recent view, however, seems to be that the method was found some time previous by Steiner.