StormGeo Completes Climatempo Acquisition

by Ship & Bunker News Team
Monday March 18, 2024

Maritime technology company StormGeo has completed its acquisition of Brazilian meteorological service Climatempo.

StormGeo had taken a 51% stake in the firm in 2019, increased that position to 89.66% in 2023 and now owns 100% of the company, it said in an emailed statement at the start of the week.

StormGeo's aim is to increase its footprint in South America, with a particular focus on Brazilian customers.

"This is an exciting and logical next step in our association with Climatempo and an important move towards becoming a market-leading technology provider for weather-sensitive industries in Latin America," Kim Sørensen, CEO of StormGeo, said in the statement.