Bain Capital and The Blackstone Group has sold The Weather Company‘s tech and product businesses to IBM. No financial terms were disclosed. Included in this transaction are The Weather Company’s B2B brand WSI.
Bain Capital and The Blackstone Group have completed the sale of The Weather Company’s B2B, mobile and cloud-based web properties, weather.com, Weather Underground, The Weather Company brand and WSI, its global business-to-business brand.
The combination of technology and expertise from the two companies will serve as the foundation for the Watson IoT Cloud platform, building on a $3 billion commitment IBM made in March 2015 to invest in the Internet of Things. The deal extends the scale and capability of IBM’s cloud data services platform and expands The Weather Company’s enterprise services capabilities and consumer reach to a global scale.
Ropes & Gray represented Bain Capital and Blackstone in the sale, announced Oct. 28, 2015, and which closed on Jan. 29. Bain Capital and Blackstone, along with NBCUniversal, had owned The Weather Company since 2008.
The Ropes & Gray team advising on the closing included private equity partners Newcomb Stillwell (Boston) and Neill Jakobe (Chicago); tax partner Aaron Harsh (Boston); executive compensation & employee benefits partner Loretta Richard (Boston); intellectual property transactions partners Edward Black and Heather Sussman (both of Boston); government enforcement partner Kim Nemirow (Hong Kong); private equity counsel Michael Gilbert (Boston); intellectual property transactions counsel Thomas Burke (New York); and private equity associates Minh-Chau Le and Richard Conklin (both of Boston).
About Ropes & Gray LLP
Ropes & Gray is one of the world’s premier law firms, with more than 1,200 lawyers and legal professionals serving clients in major centers of business, finance, technology and government.
The firm has offices in New York, Boston, Washington, D.C., Chicago, San Francisco, Silicon Valley, London, Hong Kong, Shanghai, Tokyo and Seoul, and has consistently been recognized for its leading practices in many areas, including private equity, M&A, antitrust, life sciences, health care, finance, investment management, hedge funds, tax, intellectual property, litigation, securities litigation, government enforcement, and privacy & data security.