Deals and IPOs

IBM nears deal to buy Weather Company's digital assets: Source


International Business Machines is nearing an agreement to buy The Weather Company's digital assets in a deal that could be announced as soon as this week, according to a source familiar with the matter.

The deal, which will not include the Weather Channel cable network, would be valued at more than $2 billion, The Wall Street Journal reported earlier on Tuesday, citing sources.

The Weather Company is currently owned by private equity firms Blackstone Group and Bain Capital, and Comcast'sNBCUniversal, which bought the firm in 2008 for about $3.5 billion.

The Weather Company and Bain Capital declined to comment, while IBM could not be reached immediately for comment.

IBM and the Weather company, through its business-to-business division WSI, signed a deal in March to integrate the Weather company's weather data services with IBM's cloud services.