IBM to sell The Weather Company assets to private-equity firm

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 IBM, -0.52% 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, N.Y.-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.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

IBM is selling The Weather Company assets to private equity firm Francisco PartnersIBM is selling assets of The Weather Company — including Weather.
Source: ksatnews - 🏆 442. / 53 Read more »

IBM is selling The Weather Company assets to private equity firm Francisco PartnersIBM is selling assets of The Weather Company — including Weather.
Source: wjxt4 - 🏆 246. / 63 Read more »

IBM Sells Weather Company Assets to Francisco PartnersTechnology giant IBM seems to think the wind is blowing in a different direction. The company said Tuesday that it had agreed to sell its Weather Company — a collection of digital and analyti…
Source: Variety - 🏆 108. / 63 Read more »

IBM is selling The Weather Company assets to private equity firm Francisco PartnersIBM is selling assets of The Weather Company — including Weather.com and The Weather Channel mobile app — to private equity firm Francisco Partners.
Source: AP - 🏆 728. / 51 Read more »

IBM is selling The Weather Company assets to SF private equity firmIBM is selling assets of The Weather Company — including Weather.com and The Weather Channel mobile app — to private equity firm Francisco Partners.
Source: KPIXtv - 🏆 443. / 53 Read more »

IBM selling The Weather Channel and the rest of its weather businessIBM will sell The Weather Company to Francisco Partners, a tech-focused private equity firm, for an undisclosed sum, it announced Tuesday.
Source: CNBC - 🏆 12. / 72 Read more »