FILE – A cell phone with The Weather Channel app, Jan. 4, 2019, in Los Angeles. IBM has agreed to promote assets of The Weather Company to private equity firm Francisco Partners for an undisclosed quantity, the 2 corporations introduced Tuesday, Aug. 22, 2023. The acquisition will come with Weather Channel cell and the Weather.com amongst different virtual houses and undertaking choices throughout industries and mediums, in addition to The Weather Company’s forecasting science and era platform. (AP Photo/Brian Melley, File)
NEW YORK – IBM is selling assets of The Weather Company — together with Weather.com and The Weather Channel cell app — to private equity firm Francisco Partners.
The two corporations introduced the deal Tuesday that still comprises The Weather Company’s forecasting science and era platform and different virtual houses. They didn’t expose its value.
IBM agreed to purchase The Weather Channel mobile app in conjunction with the virtual assets of The Weather Company in 2015 for $2 billion — however didn’t achieve The Weather Channel observed on TV. Allen Media Group has owned the Weather Group, which contains The Weather Channel tv community, since 2018.
IBM will nonetheless retain its sustainability device industry, together with the Environmental Intelligence Suite. The Armonk, New York-based tech corporate stated it additionally plans to nonetheless use The Weather Company’s climate information for this era.
According to Tuesday’s announcement, The Weather Company reaches a median of greater than 415 million folks every month thru its consumer-facing virtual houses and greater than 2,000 companies thru its undertaking choices.
Rob Thomas, IBM’s senior vice chairman of device and leader industrial officer, stated the deal displays IBM’s focal point on synthetic intelligence and hybrid cloud era.
The sale is set to shut in early 2024, the corporations stated.