this post was submitted on 23 Aug 2023
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IBM selling The Weather Channel and the rest of its weather business (www.cnbc.com)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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IBM selling The Weather Channel and the rest of its weather business::IBM will sell The Weather Company to Francisco Partners, a tech-focused private equity firm, for an undisclosed sum, it announced Tuesday.

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[โ€“] fmstrat@lemmy.nowsci.com 4 points 1 year ago (1 children)

I hear this a lot, but every company I've been a part of that did it seemed to be a bad idea. If a division makes money, the only reason to sell is because you believe the investment in that division can be used to make more money (for less). Getting rid of a profitable entity is usually greed based.

[โ€“] BlackSpasmodic@lemmy.dbzer0.com 6 points 1 year ago

It's corporate-speak that means nothing. The same company "focused on it's core business" today will buy something unrelated sometime later and say it's "poised for growth in a growing market".