Vaisala Corporation
Inside information
December 9, 2024, 4:00 p.m. EET
Inside information: Vaisala accelerates Xweather growth by acquiring Maxar Intelligence's WeatherDesk business
To expand its leadership in AI-led weather forecasting and enhance its offering to the insurance, finance, and energy segment, Vaisala acquires US-based Maxar Intelligence's WeatherDesk business related assets.
As forerunners in AI-led weather forecasting, WeatherDeskprovides rapid access to reliable global weather forecasts and observations. WeatherDesk serves customers focused on commodity and energy trading and energy demand planning.
The acquisition strengthens Vaisala's position as a global leader in measurement instruments and intelligence and aligns with the company's strategy to expand in energy transition and build recurring revenue in data. Together with the recently acquired Speedwell Climate Ltd, the deal further enhances Vaisala Xweather's position as a weather intelligence partner for the insurance and finance segment.
"Weather is a key parameter for commodity and energy trading as well as energy demand planning. Together with the WeatherDesk team, we can further bring weather and climate insights that help customers forecast energy demand and supply, optimize trading strategies, and manage risks associated with extreme weather events. I want to warmly welcome the team to Vaisala" says Samuli Hänninen, Head of Vaisala Xweather.
The purchase price is USD 70 million, and the acquisition will be financed mainly with interest-bearing debt. In 2023, the net sales of Maxar's WeatherDesk business amounted to USD 13 million, and the business has strong profitability. The net sales are recurring and are expected to grow double-digit, in line with Xweather's growth. Due to WeatherDesk's very asset-light business model, the assets identified in connection with the acquisition relate mainly to technology-based and customer-related intangible assets in addition to goodwill. Following the acquisition, 34 professionals, located in the US, will transfer to Vaisala.
More information
Media enquiries:
Nina Eklund, Vice President, Communications and Brand
+358 40 6691 999
comms@vaisala.com
Investor enquiries:
Paula Liimatta, Head of Investor Relations
+358 9 8949 2020
ir@vaisala.com
Distribution
Nasdaq Helsinki
Key media
vaisala.com
Vaisala is a global leader in measurement instruments and intelligence for climate action. We equip our customers with devices and data to improve resource efficiency, drive energy transition, and care for the safety and well-being of people and societies worldwide. With almost 90 years of innovation and expertise, we employ a team of over 2,300 experts committed to taking every measure for the planet. Vaisala series A shares are listed on the Nasdaq Helsinki stock exchange. vaisala.com
