Norway’s StormGeo Sold to Swedes

StormGeo was started by Norwegian  meteorologist Siri Kalvig in 1998. The company provides weather services for operations in Offshore, Renewables, Media, Corporate Enterprise and Shipping industries. 

StormGeo suddenly became highly popular and turned into one of the most wanted entities after they acquired the American competitor Applied Weather Technology (ATW) in January.

– When we bought AWT, it was suddenly as if all the world’s investors got the same idea in their head. Investors constantly called us for the acquisition, says chairman Erik Langaker to Dagens Næringsliv.

In the end, Swedish buyout fund EQT won the bidding and has bought StormGeo for NOK 1.5 billion before deduction of liabilities.

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