IBM sells The Weather Channel and weather data assets to Francisco Partners

IBM is selling its weather business, including The Weather Channel app and website, to private equity firm Francisco Partners.
The deal does not include The Weather Channel cable TV network, which is owned separately.
Francisco Partners plans to expand the business into areas like health and wellbeing.
IBM will retain access to weather data to power AI offerings for enterprise clients.
The deal is expected to close in Q1 2024 pending regulatory approval.