IBM and Francisco Partners have entered into a definitive agreement for the acquisition of The Weather Company assets from IBM by Francisco Partners. The transaction is expected to close by the end of Q1 2024, subject to regulatory approvals and customary closing conditions.
The acquisition encompasses The Weather Company’s digital consumer-facing offerings, including mobile and cloud-based properties like Weather.com, Weather Underground, and Storm Radar, as well as enterprise solutions for industries such as broadcast, media, aviation, and advertising technology.
IBM will retain its sustainability software business, including the Environmental Intelligence Suite (EIS), which helps clients manage and curate environmental, social, and governance (ESG) data. IBM plans to continue utilizing The Weather Company’s weather data for EIS to address climate-related use cases.
With Francisco Partners’ increased investment and resources, The Weather Company aims to expand beyond traditional weather forecasting. The company plans to introduce new tools and experiences that illustrate how weather impacts different aspects of life, starting with health and well-being. For businesses, The Weather Company intends to offer actionable insights to enhance customer value. The advertising platform will continue to provide real-time experiences for the advertising and subscription media industry while maintaining compliance with consumer privacy regulations.
The Weather Company serves 415 million people monthly through its digital properties and more than 2,000 businesses across various sectors through its enterprise solutions, according to IBM.
[Image courtesy: IBM]