Vaisala to buy Speedwell Climate

Vaisala is acquiring Speedwell Climate to expand its services in helping organizations manage weather-related financial risks. This move brings Vaisala into the insurance sector by adding tools that help companies protect against losses from unpredictable weather events.

Founded in 1999 and based in the UK, Speedwell Climate offers data and software to create, price, and settle index-based insurance contracts. These contracts allow businesses, such as insurers, investment funds, and renewable energy firms, to hedge against weather risks like storms, floods, or heatwaves.

The acquisition supports Vaisala’s strategy to grow its subscription-based business model, enhancing its position as a leader in climate measurement and data solutions. It also provides an opportunity to increase recurring revenue streams by expanding offerings to new and existing customer segments.

The deal is expected to close in Q4 2024 and will add 24 Speedwell Climate employees to Vaisala, pending regulatory approval.

“The combined skills and dataset of Speedwell Climate and Vaisala Xweather bring new opportunities to help customers mitigate and adapt to climate change. With weather becoming increasingly unpredictable, organizations need new tools to manage their risk position. We are very excited to welcome the skilled Speedwell Climate people to our team – together, we can turn weather anxiety into weather confidence.” –  Samuli Hänninen, Head of Vaisala Xweather.