Bain Capital, The Blackstone Group to Sell The Weather Company's Product and Technology Assets to IBM
Ropes & Gray represented Bain Capital and The Blackstone Group in the planned sale of The Weather Company’s B2B, mobile and cloud-based web properties to IBM. These properties include The Weather Company’s global B2B division WSI, weather.com, Weather Underground and The Weather Company brand. Bain Capital and Blackstone, along with NBCUniversal, have been owners of The Weather Company since 2008.
Financial terms of the deal, announced Oct. 28, were not disclosed. The sale is subject to customary closing conditions and regulatory clearance, and is expected to close in the first quarter of 2016.
The Ropes & Gray team included private equity partners Newcomb Stillwell and William Mone (both of Boston) and Neill Jakobe (Chicago); intellectual property transactions partner Edward Black (Boston); tax partners Christopher Leich and Aaron Harsh (both of Boston); executive compensation & employee benefits Loretta Richard (Boston); business & securities litigation partner Peter Welsh (Boston), and William Sussman (New York); real estate & environmental partner Peter Alpert (Boston); finance partner Jay Kim (New York); real estate senior attorney Josephine Greaves (Boston); and intellectual property transactions counsel Thomas Burke (New York).