Acquisition of MeteoGroup completed
Acquisition enables MeteoGroup to capitalise on growing market for weather intelligence with best-in-class SaaS technology
The acquisition of MeteoGroup by TBG was formally completed on 4th October 2018 following receipt of the necessary competition clearances from the German competition authorities. Accordingly, MeteoGroup is now 100% owned 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 now finalised acquisition will enable MeteoGroup to deliver on its strategy and capitalize 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 capitalize 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 such as shipping, offshore, transport, media, energy, and insurance, including the consumer app business with WeatherPro. MeteoGroup’s operations now span 18 countries around the world, and its private weather measurement network is the largest in Europe.
The 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 of MeteoGroup by TBG was formally completed on 4th October 2018 following receipt of the necessary competition clearances from the German competition authorities. Accordingly, MeteoGroup is now 100% owned by TBG AG.