IBM's Portfolio Makeover - Divests Weather Company Assets To Francisco Partners
Portfolio Pulse from Nabaparna Bhattacharya
IBM has agreed to sell The Weather Company assets to Francisco Partners, a global investment firm. The deal includes all digital consumer-facing offerings, such as enterprise offerings for broadcast, media, aviation, advertising technology, and data solutions for emerging industries. IBM will retain its sustainability software business, including the Environmental Intelligence Suite (EIS). The transaction is expected to close by the end of Q1 2024.
August 23, 2023 | 2:10 pm
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IBM's decision to sell The Weather Company assets could streamline its focus on core business areas, potentially improving operational efficiency. The stock price rose by 0.55% following the announcement.
The sale of The Weather Company assets allows IBM to focus more on its core business areas, such as hybrid cloud and AI technologies. This could potentially improve operational efficiency and profitability, which is likely why the stock price rose following the announcement.
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