IBM (NYSE:IBM) is reportedly exploring the sale of its weather-related business operations.
The Wall Street Journal, citing information from unnamed “people familiar with the matter,” reported that an “auction of the business is at an early stage,” adding that the most likely buyer would be a private equity firm who can afford “a deal that could be valued at more than $1 billion.”
IBM purchased The Weather Company”™s business-to-business, mobile and cloud-based businesses in 2015, including Weather.com, in a deal that was worth more than $2 billion. The Weather Channel was not part of the transaction, but the cable television channel agreed to license weather-forecast data and analytics from IBM.
“A sale of the weather unit would be a part of a broader push by IBM to streamline its operations as the once-dominant company”™s shares languish near levels they traded at more than 20 years ago,” reported the Journal, noting the Armonk-headquartered company cut nearly 3,900 jobs in January following a flat Q4 2022.
