Weather intelligence software provider StormGeo, part of Alfa Laval, has increased its share in Brazil-based meteorological service provider Climatempo Group.
In 2019, StormGeo acquired 51 percent of Climatempo Group and has now acquired an additional 38.66 percent of shares, increasing StormGeo’s shareholding to 89.66 percent.
The increase in shares will enable the two companies to provide more comprehensive and advanced weather intelligence solutions to customers across South America, said StormGeo.
StormGeo said the additional investment reflects the success of Climatempo in growing the business in Brazil, onboarding many new customers and industries to their weather intelligence products.
In conjunction with the ownership change, Patricia Madeira, the current coo, will take over as ceo of Climatempo on May 1, 2023. Its founder and president, Magno Nascimento, will remain a board member of the company.
“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,” said Søren Andersen, ceo of StormGeo. “Our collaboration has already yielded impressive results, and we are excited about the continued growth opportunities not only in Brazil but throughout Latin America.”