ARMONK (dpa-AFX) - International Business Machines Corp. (IBM) is exploring a sale of its weather operation as it seeks to streamline its operations, the Wall Street Journal reported citing people familiar with the matter.
The Weather.com owner is likely to get more than $1 billion in the sale, and most likely, private-equity firm would be the buyer.
An auction of the business is at an early stage, and there may not be a deal, the report noted.
IBM bought the Weather Co., a weather forecasting and information technology company that owns and operates weather.com, and Weather Underground, in 2016. According to the company's website, the business issues more than 25 billion forecasts a day.
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