Francisco Partners will acquire The Weather Company assets from IBM (NYSE:IBM), the companies announced Tuesday.
The companies have agreed on a deal that will see Francisco Partners acquire The Weather Company's digital consumer-facing offerings, its 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.
In addition, The Weather Company, which provides weather data to consumers and businesses, will also take its forecasting science and technology platform to Francisco Partners.
The Weather Company currently serves around 415 million people each month on average via its consumer-facing digital properties, including The Weather Channel mobile app and website and other outlets.
IBM said it will retain its sustainability software business, including its Environmental Intelligence Suite.
"We're proud of what The Weather Company team has accomplished with IBM, and we are confident that the best path forward is as a standalone company benefiting from Francisco Partners' expanded investment, dedication, and expertise," said Rob Thomas, Senior Vice President, Software and Chief Commercial Officer of IBM.