– UK, London / SWITZERLAND, Zurich – MeteoGroup today announces a proposed change of ownership, following an agreement to be acquired by TBG AG, a Switzerland-based private holding company and the owner of DTN, an independent provider of decision-support solutions to the global agriculture, oil and gas and other weather-sensitive industries.
“We welcome the new owner who has significant experience in meteorological intelligence. The proposed acquisition will enable MeteoGroup to deliver on its strategy and capitalise on a vast global market opportunity”, said Donat Rétif, Chief Executive Officer of MeteoGroup. “Our investment to date in meteorological expertise and best-in-class technology is already helping major businesses to drive efficiencies, mitigate risks and improve decision making. With the support of the new owner, we can accelerate our commercial expansion and capitalise on the vast market opportunity.”
In March 2014, General Atlantic, a global growth equity firm, acquired MeteoGroup from Press Association. Since then, MeteoGroup has expanded its global scale by developing new product capabilities and offering new solutions for a number of industries including shipping, offshore, transport, media, energy, and insurance, as well as the consumer app business. MeteoGroup’s operations now span 18 countries around the world, and its private weather measurement network is the largest in Europe.
The proposed acquisition of MeteoGroup comes amid significant business momentum for the company culminating in a record order book. As of August 2018, year-to-date bookings grew 25% year-on-year compared to the same period in 2017.
Demand has increased from large multinational enterprises who need a global weather provider with systems integration capability and best-in-class technology. Large enterprise sales increased 41% year-on-year, with strong demand in particular from the shipping industry achieving growth of 67% in year-to-date bookings. This followed the successful launch of MeteoGroup’s Onboard Route Optimization solution SPOS 9.0 for commercial vessels.
The acquisition is subject to antitrust approval and is expected to complete in October 2018.
MeteoGroup is the global weather authority. We combine accurate science with advanced technology and local expertise with global reach. MeteoGroup is trusted by hundreds of government agencies, thousands of companies and millions of consumers. With offices in 12 countries around the world, MeteoGroup is perfectly placed to provide local services to a global audience. Since March 2014, MeteoGroup has been backed by General Atlantic, a global growth equity firm.
DTN is the leading digital provider of information services, supply chain connectivity solutions and decision-support tools to more than 80,000 customers in agriculture, oil and gas, trading and weather-sensitive industries worldwide. DTN, based in Omaha, Nebraska and Minneapolis is owned by TBG, a private century old investment holding headquartered in Zurich.
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.