The weather data and monitoring specialist, which is also represented in Hamburg, has acquired all shares in the Brazilian weather service Climatempo.
StormGeo, itself acquired by supplier Alfa Laval in 2021, has completed the full takeover of Climatempo, it was announced.
This marks the end of a long journey in several stages. In 2019, Stormgeo acquired 51% of the shares in the Climatempo Group. Last year, the stake was increased by 38.66%.
With the complete takeover, the service provider, originally part of DNV, aims to expand its presence in the South American market. CEO Kim Sørensen said today: “This is an exciting and logical next step in our collaboration with Climatempo and an important step towards becoming a market-leading technology provider for weather-dependent industries in Latin America.”
Climatempo brand to remain under StormGeo umbrella “until further notice”
The complete takeover will enable both companies to further combine their expertise and technological innovations. “We have seen remarkable growth opportunities following our collaboration with StormGeo and are excited to finally be fully integrated into our digitally strong and technologically innovative parent company,” said Patricia Madeira, CEO of Climatempo. The company will continue to operate in Brazil under its original brand name “until further notice”.
