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, is to acquire MetoGroup, a global weather specialist.
“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,” says 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 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 per cent year-on-year compared to the same period in 2017.
Demand has increased from large multinational enterprises needing a global weather provider with systems integration capability and best-in-class technology. Large enterprise sales increased 41 per cent year-on-year, with strong demand in particular from the shipping industry achieving growth of 67 per cent 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.
