Weather sensor and measurement technology provider Vaisala Oyj (VAIAS.HE) announced on Wednesday that it has agreed to buy San Francisco-based AI weather forecasting company Atmo, Inc for a minimum of $70 million to be paid in cash and stock.
The consideration also involves $60 million milestone payment, based on business performance and retention of key employees for the period of 2026-2028, the company said in a statement.
The deal will add Atmo's artificial intelligence models to Vaisala's sensor and weather observation network used by meteorological agencies in more than 150 countries.
Vaisala said it will pay the $70 million cash and debt free at closing through cash and newly issued shares. The cash portion will be funded from existing reserves and debt.
The share component is worth about 9 million euros.
About 20 Atmo employees, including the founders, will join Vaisala when the deal closes, expected by the end of 2026 pending regulatory approvals.
Vaisala said the acquisition does not change its business outlook for 2026 provided on April 24. The group continues to expect full-year 2026 net sales of 600 million to 630 million euros and EBITA of 95 million to 110 million euros, compared with 597 million euros and 94 million euros respectively in 2025.
On the Helsinki Stock Exchange, shares of Vaisala closed Tuesday's trading 1.67 percent higher at 54.80 euros.
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