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IBM to Sell The Weather Company to Francisco Partners
- Client News
- August 22, 2023
Paul, Weiss is advising IBM in its sale of The Weather Company to Francisco Partners. Financial terms of the deal were not disclosed. Assets included in the sale are The Weather Company's digital consumer-facing offerings, The Weather Channel mobile and cloud-based digital properties, including Weather.com, Weather Underground and Storm Radar, as well as the company’s enterprise offerings and forecasting science and technology platform.
IBM will retain its sustainability software business, including its Environmental Intelligence Suite (EIS), and intends to continue leveraging The Weather Company's weather data for EIS, which spans various climate-related use cases. The transaction is expected to close by the end of the first quarter of 2024, subject to regulatory approvals, completion of local labor processes and other customary closing conditions.
The Paul, Weiss team is led by Steven Williams, Dotun Obadina and Scott Barshay, and includes corporate partners Suhan Shim and Caith Kushner, and counsel Stephen Koo; intellectual property partner Jonathan Ashtor and counsel Elana Bensoul; tax partner Scott Sontag and counsel Sohail Itani; executive compensation partner Jarrett Hoffman; real estate partner Peter Fisch; litigation partner Joshua Soven and counsel Steven Herzog; and antitrust counsel Marta Kelly.