PE-backed The Weather Company to Sell Digital Assets to IBM
October 29, 2015
IBM (NYSE: IBM) has entered into a definitive agreement to acquire the B2B, mobile and cloud-based web properties of The Weather Company, an entity backed by Bain Capital and The Blackstone Group. The transaction, reportedly worth over $2 billion, includes The Weather Company’s brand, WSI, weather.com and Weather Underground; it excludes acquisition of the TV segment The Weather Channel. The deal is expected to close in 1Q 2016. Bain Capital, The Blackstone Group and NBCUniversal had acquired the company in 2008 for about $3.5 billion.