MeteoGroup reaches agreement to acquire leading European weather business
29th August 2013: MeteoGroup, Europe’s largest private sector weather business and wholly owned subsidiary of PA Group, has reached agreement to buy mminternational (Europe) AG, a major Swiss-German weather company. The agreement will see MeteoGroup expand its global operations to 14 countries, making it one of the largest weather companies in the world with almost 400 employees and combined annual turnover of more than €50 million.
MeteoGroup, which provides weather services for corporate, industrial, media and consumer markets including key sectors such as transport, marine and energy, has more than doubled in size since its acquisition by PA Group in 2005.
Mminternational (Europe), formerly known as meteomedia, operates a media division and provides decision support systems for weather-critical industries such as energy, logistics and insurance. It also has the highest density of private weather stations in Europe. The network of 830 proprietary weather stations across Germany and Switzerland opens up new and exciting opportunities for developing high resolution forecasting technologies.
As part of the agreement, MeteoGroup will also enter into a joint venture, mminternational (Asia) Ltd, to develop business opportunities in the Asian market, where both MeteoGroup and mminternational (Europe) are already active.
Jennie Campbell, managing director of MeteoGroup, said: “We are delighted to be able to bring together two of the leading weather businesses in Europe, consolidating our position as one of the largest private sector weather companies in the world."
“The agreement to buy mminternational (Europe) is part of MeteoGroup’s long-term investment strategy, directly benefiting our customers with the addition of more skilled resource and an extended product portfolio.”
Martin Kurer, mminternational (Europe)’s chairman, said: “MeteoGroup and mminternational (Europe) are complementary businesses, sharing a culture of quality, innovation, customer service and continuous improvement in forecasting and products. Both company’s customers demand smart, high quality and cost efficient solutions and the combined strength of the two businesses will mean more resources, more R&D expertise and increased efficiency.
“I am also delighted to be heading up our Asian joint venture, which will see expansion in the Philippines, where a network of 1,000 weather stations is currently being implemented. With MeteoGroup’s support, we are looking forward to maximising the exciting opportunities for growth in the Asian market.”
The acquisition is subject to regulatory clearance in Germany.
Contact:
Caroline Thorneycroft
Head of Group Marketing, MeteoGroup
caroline.thorneycroft@meteogroup.com
+44 (0)20 79637520
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