IBM Plans to Acquire Product and Technology Businesses from – The Weather Company.
The American multinational technology and consulting corporation (IBM) has agreed to acquire Product and Technology Businesses from The Weather Company. The deal includes the Weather Channel and Weather Underground apps and the websites.
The Product and Technology Businesses:
The company’s proposed Product and Technology Businesses to acquire include The Weather Channel’s website, Weather.com; Weather Underground; and Weather Services International, which is inclusive of the world’s leading meteorological data science experts, precision forecasting capabilities and a high-volume cloud platform that is currently owned by The Weather Channel. Although, the terms of the purchase has not been disclosed.
According to Source: “The planned acquisition would bring together IBM’s powerful cognitive and analytics platform and The Weather Company’s dynamic cloud data platform, which powers the fourth most-used mobile app daily in the United States and handles 26 billion inquiries to its cloud-based services each day. The deal would extend the reach of IBM’s cloud data services capabilities and expand The Weather Company’s business capabilities and consumer reach on a global scale. The Weather Company’s cloud-based data platform will allow IBM to collect an even larger variety and higher velocity of global data sets, store them, analyze them and in turn distribute them and empower richer and deeper insights across the Watson platform.”
As much as this may be a great move for IBM; the proposed acquisition is still a work in progress; “The acquisition is subject to customary closing conditions and regulatory clearance and is expected to close in the first quarter of 2016.” As stated on the company’s website (IBM).
For more information on the proposed acquisition by IBM; Please Read the Press release.