Aug. 22 (UPI) -- Computing giant IBM on Tuesday said the Weather Channel and affiliate services will become stand-alone entities after they were acquired for undisclosed terms by tech investor Francisco Partners.
Francisco Partners acquired The Weather Company's digital assets, from the Weather Channel to Weather Underground.
"Amid the growing volatility of weather, The Weather Company's unique set of consumer, media, and industry-specific products provide mission critical, data-driven weather insights to individuals and businesses around the world," said Alan Ni, a partner at Francisco.
Weather indeed is volatile. Much of the northern parts of North America have frequently dealt with smoke from wildfires burning in northern Canada, while parts of Maui were devastated recently by similar blazes.
Meanwhile, this week started with five storms developing in the Atlantic. Of those, Tropical Storm Franklin could develop into a hurricane as it moves east of the Bahamas over the weekend.
July was the hottest month ever in recorded human history.
Francisco under the terms of the deal gets The Weather Company's forecasting science and technology platform, while IBM retains software services such as its Environmental Intelligence Suite.
"We're proud of what The Weather Company team has accomplished with IBM, and we are confident that the best path forward is as a standalone company benefiting from Francisco Partners' expanded investment, dedication and expertise," said Rob Thomas, the chief commercial officer for IBM.
Founded as The Weather Channel in 1980, The Weather Company had been a subsidiary of IBM since 2016. Financial terms were not disclosed, though the deal is expected to close during the first quarter of 2024.