- The assets include including Weather.com, Weather Underground and Storm Radar
- IBM will retain its sustainability software business
- The transaction is expected to close by the end of the first quarter of 2024
Francisco Partners has agreed to acquire The Weather Company assets from IBM. No financial terms were disclosed.
Headquartered in Atlanta, The Weather Company is a weather forecasting and information tech company.
The assets include including Weather.com, Weather Underground and Storm Radar. The Weather Company will also bring its forecasting science and technology platform to Francisco Partners.
IBM will retain its sustainability software business.
On the deal, Mei Shi, a principal at Francisco Partners, said in a statement, “We have a long and successful track record of executing divisional carve-out transactions and look forward to helping The Weather Company drive crucial focus in executing on organic and inorganic growth strategies.”
The transaction is expected to close by the end of the first quarter of 2024.
Francisco Partners invests in the technology industry. Francisco Partners has approximately $45 billion in capital raised to date.