The Weather Company Sold to Private Equity Firm

The digital assets of The Weather Channel, owned by IBM since 2016, will form a standalone company backed by investment firm Francisco Partners.

IBM, which has owned the digital products ofand brands like Weather Underground since 2016, has sold the assets to investment firm Francisco Partners, the companies said Tuesday. Terms of the deal, which is expected to close early next year, weren’t disclosed

The sale marks the end of seven-year run for The Weather Company at the technology giant, which originally bought the assets as part of a plan to bulk up its data offering and build out its Watson Internet of Things Unit. Now, however, it doesn’t view the asset as part of its core offering. “Over the last few years, we’ve evolved IBM to be a hybrid cloud and AI company,” stated Rob Thomas, svp software and chief commercial officer at IBM, in announcing the sale.

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