Vaisala expands its subscription-based business by acquiring Speedwell Climate. The acquisition enables Vaisala to enter the insurance segment with tools for organisations to protect themselves from financial losses caused by weather-related uncertainties.
Speedwell Climate provides data and software to structure, price, and settle index-based climate risk transfer contracts. The company serves various industries, such as renewable energy, insurance, and investment funds. Founded in 1999, Speedwell Climate is headquartered in Harpenden, United Kingdom, with a subsidiary in the USA. The company has been growing profitably, reaching net sales of close to GBP 4 million in 2023. Following the acquisition, 24 professionals will transfer to Vaisala. The acquisition of Speedwell Climate and its group companies is subject to regulatory approval and is expected to be closed in Q4 2024.
