The Weather Company Sold to Private Equity Firm

IBM, which has owned the digital products ofand brands like Weather Underground since 2016, has sold the assets to investment firm Francisco Partners, the companies said Tuesday. Terms of the agreement weren’t disclosed. The deal is expected to close early next year.

The sale marks the end of a seven-year run for The Weather Company at the technology giant, which originally bought the assets as part of a plan to bulk up its data offering and build out its Watson Internet of Things Unit. Now, however, it doesn’t view the asset as part of its core offering. “Over the last few years, we’ve evolved IBM to be a hybrid cloud and AI company,” stated Rob Thomas, svp software and chief commercial officer at IBM, in announcing the sale.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

The Weather Company Sold to Private Equity FirmThe digital assets of The Weather Channel, owned by IBM since 2016, will form a standalone company backed by investment firm Francisco Partners.
Källa: THR - 🏆 411. / 53 Läs mer »

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.
Källa: CNBC - 🏆 12. / 72 Läs mer »

IBM Agrees to Sell Weather BusinessFrancisco Partners has agreed to acquire The Weather Company assets, including the popular Weather.com platform, from International Business Machines.
Källa: WSJ - 🏆 98. / 63 Läs mer »

Texas considers buying park land it’s leasing from same company that owned Fairfield LakeThe Texas Parks and Wildlife commissioners will vote on whether to purchase the land containing Lake Colorado City State Park from Vistra, which sold the...
Källa: dallasnews - 🏆 18. / 71 Läs mer »