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  • Saturday, April 20, 2024

WSJ: IBM Nears Deal to Acquire The Weather Company’s Digital Portfolio


acquisition, mergerIBM (NYSE: IBM) is close to finalizing an agreement to acquire The Weather Co.‘s digital and data assets from a Bain Capital–Blackstone–NBCUniversal consortium, The Wall Street Journal reported Tuesday.

Suzanne Vranica and Robert McMillan write the companies could unveil the transaction as early as Wednesday and WSJ estimates the assets to be acquired are worth more than $2 billion.

The deal covers the website, application, intellectual property, data and infrastructure of the digital business of Weather Co., the newspaper reports.

IBM also seeks to leverage forecasting technology and data that Weather Co. offers to airlines, utilities and insurers through licensing agreements.

David Kenny, Weather Co.’s CEO, could also join the New York-based technology firm, the report said.

The companies formed a partnership earlier this year with the goal of integrating IBM’s analytics and cloud computing tools with Weather Co.’s forecast and climate data.

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