IBM sells The Weather Company assets to Francisco Partners

IBM and Francisco Partners, a global investment firm that specializes in partnering with technology businesses, have signed a definitive agreement under which Francisco Partners will acquire The Weather Company assets from IBM. Specific terms of the transaction were not disclosed. The assets being acquired by Francisco Partners include The Weather Company’s digital consumer-facing offerings, The Weather Channel mobile and cloud-based digital properties including Weather.com, Weather Underground and Storm Radar, as well as its enterprise offerings for broadcast, media, aviation, advertising technology and data solutions for other emerging industries. IBM will retain its sustainability software business, including its Environmental Intelligence Suite to help clients curate, measure, report and operationalize ESG data to inform decision making, improve performance and meet regulatory requirements. IBM intends to continue leveraging The Weather Company’s weather data for EIS, which spans various climate related use cases. The transaction is expected to close by the end of Q1 2024 and is subject to regulatory approvals, completion of local labor processes and other customary closing conditions.