IBM sells weather business to private equity firm Francisco Partners for undisclosed sum

📆 22/08/2023 19:59:00
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The sale includes The Weather Company’s consumer-focused assets such as Weather.com and Storm Radar, as well as enterprise offerings for industries including media and aviation

The Big Blue said Tuesday it plans to continue using The Weather Company’s weather data for its software offerings focused on environmental insights.

“Over the last few years, we’ve evolved IBM to be a hybrid cloud and AI company. We regularly review our portfolio to make sure our business areas are core to that strategy,” said Rob Thomas, senior vice president for software. The Wall Street Journal had reported in April that IBM was exploring a sale of its weather business in a deal that could be valued at more than $1-billion.

IBM, which missed revenue estimates for the second quarter in July, had said in January it would lay off 3,900 employees.

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