IBM is selling The Weather Company assets to private equity firm Francisco Partners
By The Associated Press on August 22, 2023.
NEW YORK (AP) – IBM is selling assets of The Weather Company – including Weather.com and The Weather Channel mobile app – to private equity firm Francisco Partners. The two companies announced the deal Tuesday that also includes The Weather Company’s forecasting science and technology platform and other digital properties. They did not disclose its price. IBM agreed to buy The Weather Channel mobile app along with the digital assets of The Weather Company in 2015 for $2 billion – but did not acquire The Weather Channel seen on TV. Allen Media Group has owned the Weather Group, which includes The Weather Channel television network, since 2018. IBM will still retain its sustainability software business, including the Environmental Intelligence Suite. The Armonk, New York-based tech company said it also plans to still use The Weather Company’s weather data for this technology. According to Tuesday’s announcement, The Weather Company reaches an average of more than 415 million people each month through its consumer-facing digital properties and more than 2,000 businesses through its enterprise offerings. Rob Thomas, IBM’s senior vice president of software and chief commercial officer, said the deal reflects IBM’s focus on artificial intelligence and hybrid cloud technology. The sale is set to close in early 2024, the companies said. 8-7
