Manufacturer of measuring devices Vaisala acquires the WeatherDesk business of the US-based Maxar Intelligence. With the acquisition, Vaisala will increase its position in artificial intelligence-driven weather forecasting and strengthen its offering to the insurance, financial and energy sectors, the company says in a press release.
WeatherDesk provides access to global weather forecasts and observations. WeatherDesk serves customers who focus on commodity and energy trading and energy demand and supply forecasting.
The purchase price is USD 70 million and will be financed mainly with debt. Maxar’s WeatherDesk business had 2023 revenue of US$13 million.
The turnover is based on recurring billing and it is expected to grow in double digits, the release states. As a result of the acquisition, 34 employees in the United States will transfer to Vaisala.