Norwegian weather analytics provider StormGeo has increased its holding in Brazilian meteorological services provider Climatempo. With the increased shareholding, StormGeo is set to offer more comprehensive and advanced weather intelligence solutions to customers across South America.
Having acquired 51% of Climatempo Group in 2019, StormGeo has moved ahead with the acquisition of an additional 38.66% of shares, thereby increasing its shareholding to 89.66%.
The increased shareholding in Climatempo will enable the two companies to further combine their expertise and resources, bringing together StormGeo’s weather forecasting and risk management solutions with Climatempo’s local weather knowledge and customer relations. In conjunction with the ownership change, Patricia Madeira, the current COO, will take over as CEO of Climatempo Group on May 1, 2023, while the founder and president, Magno Nascimento, will remain an influential board member of the company.
Søren Andersen, CEO of StormGeo, said, “Our ownership in Climatempo has facilitated the integration and advancement of weather-related technological know-how, empowering us to deliver innovative and more customer-centric solutions. Our collaboration has already yielded impressive results, and we are excited about the continued growth opportunities not only in Brazil but throughout Latin America.”
Nascimento added, “Together with StormGeo, Climatempo has grown significantly through agile and innovative weather intelligence products. The next logical step is further integration between the two companies so that our joint product offering can benefit all clients, be it in Brazil, Latin America, or globally.”
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