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Deal changes outlook for BBC weather forecaster

By Mark Kleinman, City editor
A Swiss-owned business information provider will emerge this week as the mystery buyer of MeteoGroup, the weather forecasting giant which supplies data to the BBC and British Airways.
Sky News has learnt that TBG, which is based in Zurich, will fund the purchase of MeteoGroup through DTN, a company it acquired last year from the industrial powerhouse Schneider Electric.
The takeover will follow a troubled period for MeteoGroup under the ownership of ‎General Atlantic, which initially invested in it in 2013.Sources close to the deal, which is expected to be announced in the next couple of days, said it would enable TBG to expand its presence in the growing market for weather information services and technology.MeteoGroup, which employs more than 100 meteorologists, has been a rare poor investment for GA, which has been a serial backer of technology‎ "unicorns" such as Buzzfeed and Uber.‎The value of the deal is unlikely to be disclosed, but insiders confirmed that it would crystallise a loss for GA.Pricing pressure across the industry is said to have been a factor in the challenging conditions faced by the business in recent years.
Deal changes outlook for BBC weather forecaster

Image:
MeteoGroup's clients include British Airways
MeteoGroup is a major supplier of weather forecasting information to business customers, competing with companies including StormGeo and IBM, the US technology giant which owns The Weather Channel.
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