IBM will sell The Weather Company to Francisco Partners, a tech-focused private equity firm, for an undisclosed sum, it announced Tuesday.
been exploring a sale since at least April, as it seeks to streamline its business. The company said its weather unit serves an average of 415 million people monthly, and reports in April estimated the coming deal to be valued atThe sale aligns with IBM's strategy shift, as the company narrows its focus to key drivers such as software, cloud services and AI.that's slated to debut in the third quarter.
The company's goal is to take the lead in user-friendly AI development for businesses, in part because of the massive demand for, and shortage of, human talent in the AI field. The platform includes a feature for AI-generated code, an AI governance toolkit, and a library of thousands of large-scale AI models, trained on language, geospatial data, IT events and The Weather Company's weather data, which IBM will continue to use.
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