Computing giant IBM announced Wednesday that it has purchased the digital assets of The Weather Company, parent of TV's Weather Channel.
The deal covers everything except TV operations, focusing on the Weather Company's range of digital weather information assets including mobile apps and websites, reported CNN. Most notable for IBM, however, is that it now has access to the Weather Company's forecasting data and technology.
"Big Data" is crucial to IBM and the Weather Company has tons of it. If the data is combined with Watson, a computing system capable of parsing various types of data and making statistically based decisions across a range of industries, the data could become more useful, Weather Company chief executive David Kenny noted, according The New York Times.
For example, IBM would be able to provide forecasts to drug companies and pharmacies who rely on the forecasts to predict when to increase supplies of allergy medications, and agriculture companies who use the data to maximize crop yields.
In short, access to the right data could mean millions of dollars in increased sales, and that data could potentially be coming straight from IBM.
In a statement, Dave Shull, CEO of The Weather Channel Television Network, said the network will "continue to be owned and supported by our existing shareholders - Bain Capital, Blackstone and NBC Universal - and operate as a standalone business."
The Weather Company is currently owned by Blackstone Group, Bain Capital and Comcasts' NBC Universal division. The trio paid $3.5 billion for the company in 2008, reported Re/code.
Financial details about Wednesday's deal were not disclosed.
