International Business Machines Corp. will sell its weather business to Francisco Partners, which will operate it as a standalone company.
IBM’s consumer-facing weather services such as Weather.com and business-oriented offerings will be acquired by the technology-focused private equity firm for an undisclosed sum, it said in a joint statement with Francisco on Tuesday. IBM will retain its sustainability software suite.
“Through increased investment and resources from Francisco Partners, The Weather Company will look to move beyond forecasting alone and bring new tools and experiences to users to help them understand how weather impacts all aspects of their lives, starting with health and well-being,” the companies said in the statement.
Read the full story on Bloomberg here.