The Weather Company

Last updated
The Weather Company LLC
Company type Private
Industry Information technology
Weather forecasting
FoundedJuly 18, 1980;44 years ago (1980-07-18)(as The Weather Channel)
October 21, 2012;12 years ago (2012-10-21)
(as the Weather Company)
Headquarters1001 Summit Blvd NE, Brookhaven, ,
U.S. [1]
Key people
  • Sheri Bachstein (CEO)
Owner Francisco Partners (2024–present)
Parent Landmark Communications (1980–2008)
NBCUniversal, Bain Capital, The Blackstone Group (2008–2016)
  • IBM (2016–2024)
Subsidiaries Weather Underground
WSI Corporation
Website www.weathercompany.com

The Weather Company LLC is a weather forecasting and information technology company that owns and operates weather.com (the website for The Weather Channel), and Weather Underground. From 2016 to 2023, The Weather Company was a subsidiary of the Watson & Cloud Platform business unit of IBM. [2] In February 2024, Francisco Partners completed the acquisition of The Weather Company, which operates as a standalone company. [3]

Contents

History and operations

The Weather Company started as the Weather Channel in 1980, and launched two years later. In 2012, the company created a broader holding company and replaced the word "Channel" with "Company" to better reflect their growing lineup of digital products. [4]

The Weather Company was previously owned by a consortium made up of the Blackstone Group, Bain Capital, and NBCUniversal. That consortium sold the Weather Company's product and technology assets to IBM on January 29, 2016, but retained possession of The Weather Channel cable network until March 2018, when it was sold to Entertainment Studios. [2] As part of the 2016 spin-off, the consortium entered into a long-term licensing agreement with IBM for use of its weather data and "The Weather Channel" name and branding. [5] [6] [7] In August 2023, IBM agreed to sell The Weather Company to private equity firm Francisco Partners for an undisclosed sum. [8]

In February 2024, Francisco Partners completed the acquisition of The Weather Company, which operates as a standalone company. [3] The cost was disclosed as $1.1 billion, with $750 million in cash, $100 million deferred over seven years, and $250 million in contingent consideration. [9]

See also

Related Research Articles

<span class="mw-page-title-main">Red Hat</span> Computing services company

Red Hat, Inc. is an American software company that provides open source software products to enterprises and is a subsidiary of IBM. Founded in 1993, Red Hat has its corporate headquarters in Raleigh, North Carolina, with other offices worldwide.

<span class="mw-page-title-main">The Weather Channel</span> American TV channel

The Weather Channel (TWC) is an American pay television channel owned by Weather Group, LLC, a subsidiary of Allen Media Group. The channel's headquarters are located in Atlanta, Georgia. Launched on May 2, 1982, the channel broadcasts weather forecasts and weather-related news and analysis, along with documentaries and entertainment programming related to weather. A sister network, Weatherscan, was a digital cable and satellite service that offered 24-hour automated local forecasts and radar imagery. Weatherscan was officially shut down on December 12, 2022. The Weather Channel also produces outsourced weathercasts, notably for CBS News and RFD-TV.

<span class="mw-page-title-main">Lexmark</span> American imaging company

Lexmark International, Inc. is a privately held American company that manufactures laser printers and imaging products. The company is headquartered in Lexington, Kentucky. Since 2016 it has been jointly owned by a consortium of three multinational companies: Apex Technology, PAG Asia Capital, and Legend Capital. It was announced Dec. 23, 2024 that Xerox will acquire Lexmark for $1.5 billion.

<span class="mw-page-title-main">Blackstone Inc.</span> American alternative investment company

Blackstone Inc. is an American alternative investment management company based in New York City. It was founded in 1985 as a mergers and acquisitions firm by Peter Peterson and Stephen Schwarzman, who had previously worked together at Lehman Brothers. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate across the globe. Blackstone is also active in credit, infrastructure, hedge funds, secondaries, growth equity, and insurance solutions. As of May 2024, Blackstone has more than US$1 trillion in total assets under management, making it the world's largest alternative investment firm.

<span class="mw-page-title-main">HCLTech</span> Indian multinational technology company

HCL Technologies Limited is an Indian multinational information technology (IT) consulting company headquartered in Noida. Founded by Shiv Nadar, it was spun out in 1991 when HCL entered into the software services business. The company has offices in 59 countries and over 220,000 employees.

<span class="mw-page-title-main">Weather Underground (weather service)</span> Weather Service

Weather Underground is a commercial weather service providing real-time weather information over the Internet. It provides weather reports for most major cities around the world on its Web site, as well as local weather reports for newspapers and third-party sites.

<span class="mw-page-title-main">Adaptec</span> American computer storage company

Adaptec, Inc., was a computer storage company and remains a brand for computer storage products. The company was an independent firm from 1981 to 2010, at which point it was acquired by PMC-Sierra, which itself was later acquired by Microsemi, which itself was later acquired by Microchip Technology.

<span class="mw-page-title-main">Apax Partners</span> British private equity firm

Apax Partners LLP is a British private equity firm, headquartered in London, England. The company also operates out of six other offices in New York, Hong Kong, Mumbai, Tel Aviv, Munich and Shanghai. As of March 2024, the firm had raised and advised funds of approximately US$77 billion. Apax Partners is one of the oldest and largest private equity firms operating on an international basis.

Persistent Systems is an Indian multinational technology services company based in Pune. It is primarily engaged in cloud computing, internet of things, endpoint security, big data analytics and software product engineering services.

ON Semiconductor Corporation is an American semiconductor supplier company, based in Scottsdale, Arizona. Products include power and signal management, logic, discrete, and custom devices for automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications. onsemi runs a network of manufacturing facilities, sales offices and design centers in North America, Europe, and the Asia Pacific regions. Based on its 2016 revenues of $3.907 billion, onsemi ranked among the worldwide top 20 semiconductor sales leaders, and was ranked No. 483 on the 2022 Fortune 500 based on its 2021 sales.

<span class="mw-page-title-main">Thomson Reuters</span> Canadian multinational information conglomerate

Thomson Reuters Corporation is a Canadian multinational content-driven technology conglomerate. The company was founded in Toronto, Ontario, Canada and maintains its headquarters at 19 Duncan Street there.

Tealeaf was a company providing analytics software for web and mobile applications.

<span class="mw-page-title-main">JLL (company)</span> Real estate consultancy firm

Jones Lang LaSalle Incorporated (JLL) is a global real estate services company, founded in the United Kingdom with offices in 80 countries. The company also provides investment management services worldwide, including services to institutional and retail investors, and to high-net-worth individuals, as well as technology products through JLL Technologies, and VC investments via its PropTech fund, JLL Spark. The company is ranked 193 on the Fortune 500.

<span class="mw-page-title-main">Francisco Partners</span> American private equity firm

Francisco Partners Management, L.P., doing business as Francisco Partners, is an American private equity firm focused exclusively on investments in technology and technology-enabled services businesses. It was founded in August 1999 and based in San Francisco with offices in London and New York City.

Guggenheim Partners, LLC is a global investment and advisory financial services firm that engages in investment banking, asset management, capital markets services, and insurance services.

<span class="mw-page-title-main">Vista Equity Partners</span> American investment firm

Vista Equity Partners Management, LLC is an American private equity firm that invests in software, data, and technology-enabled businesses. With over $100 billion in assets under management (AUM), it is one of the largest private equity firms in the world. Vista Equity Partners has invested in hundreds of technology companies, including Citrix, SentinelOne, and Marketo, and has achieved many accolades in the space, most recently being named as 2023's Global Technology Private Equity Firm of the Year by Private Equity International.

<span class="mw-page-title-main">Symphony Technology Group</span> American private equity firm

STG Partners, LLC, doing business as Symphony Technology Group (STG), is an American private equity firm based in Menlo Park, California. Its Managing Partner and Chief Investment Officer is William Chisholm who co-founded the firm with Bryan Taylor and Dr. Romesh Wadhwani in 2002.

<span class="mw-page-title-main">IBM</span> American multinational technology corporation

International Business Machines Corporation, nicknamed Big Blue, is an American multinational technology company headquartered in Armonk, New York and present in over 175 countries. It is a publicly traded company and one of the 30 companies in the Dow Jones Industrial Average. IBM is the largest industrial research organization in the world, with 19 research facilities across a dozen countries, having held the record for most annual U.S. patents generated by a business for 29 consecutive years from 1993 to 2021.

Veritas Capital Fund Management, L.L.C. is a New York–based private-equity firm founded in 1992 that invests in companies providing critical products and services, primarily technology-enabled products and services, to government and commercial customers worldwide. The firm's first fund closed in 1998. They closed an eighth flagship fund in 2022; in all, Veritas has approximately $45 billion of assets under management. Veritas is led by Ramzi Musallam, the firm's Chief Executive Officer and Managing Partner.

References

  1. "The Weather Channel in Atlanta, GA". YP.com.
  2. 1 2 Press release (29 January 2016). "IBM Closes Deal to Acquire The Weather Company's Product and Technology Businesses". The Weather Company. Archived from the original on July 7, 2018. Retrieved 22 July 2016.
  3. 1 2 Francisco Partners, Francisco Partners (February 1, 2024). "Francisco Partners Completes Acquisition of The Weather Company". Francisco Partners . Retrieved February 15, 2024.
  4. Stelter, Brian (2012-10-21). "Weather Channel's Parent Company Is Renamed" . The New York Times. ISSN   0362-4331 . Retrieved 2017-08-17.
  5. Hardy, Quentin (28 October 2015). "IBM to Acquire the Weather Company" . The New York Times . Retrieved 22 July 2016.
  6. Cao, Jing (28 October 2015). "IBM Agrees to Acquire Weather Channel's Digital Assets" . Bloomberg News . Retrieved 22 July 2016.
  7. Littleton, Cynthia (28 October 2015). "Storms Are In, Reality Shows Out as Weather Channel Gets Back to Basics". Variety . Retrieved 22 July 2016.
  8. Field, Hayden (August 22, 2023). "IBM selling The Weather Channel and the rest of its weather business". CNBC . Retrieved August 22, 2023.
  9. "FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2024, INTERNATIONAL BUSINESS MACHINES CORPORATION". www.sec.gov. Retrieved 2025-01-20.