2023-08-23 10:05:54
IBM sells The Weather Company, its subsidiary specializing in weather data analysis, to the Francisco Partners fund. But Big Blue will still retain the right to use The Weather Company’s data in its Environmental Intelligence Suite software.
IBM announces the sale of its subsidiary The Weather Company to the Francisco Partners fund. Specific terms of the agreement were not made public.
We remember that Big Blue had bought this firm specializing in the analysis of weather data in January 2016 to make it a pillar of its strategy in the Internet of Things. The Weather Company’s asset sale, which is expected to close by the end of the first quarter of 2024, includes consumer products and services (Weather.com, Weather Underground and Storm Radar). As well as its enterprise data solutions, including media, aviation and AdTech. The Weather Company will once again become a stand-alone entity.
IBM will, however, retain the right to use weather data from The Weather Company in its Environmental Intelligence Suite (EIS) software, which covers a range of climate-related use cases. This data is particularly useful within watsonx, IBM’s AI platform, combined with NASA satellite data. This platform can be used for various tasks, such as monitoring natural disasters, tracking changes in land use, and forecasting agricultural yields.
“We are proud of what The Weather Company team has accomplished with IBM, and we are confident that the best path forward is as a stand-alone company benefiting from the increased investment, dedication and expertise of Francisco Partners,” said Rob Thomas, IBM’s Senior Vice President, Software and Chief Commercial Officer.
This is not the first time IBM has sold assets to Francisco Partners. The provider had already sold a large part of its healthcare AI business to the private equity firm.
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