According to Forbes, the CEO of the Weather Company David Kenny explains that his firm is in charge of The Weather Channel and that he hopes to extract meaning from the data he has accumulated over time with the help of their state-of-the-art digital assets.

These digital assets include a wide array of tracking systems and a "massive amount of data" that has been painstakingly collected from all over the world.

While there is no news yet of when the public will be able to enjoy the promised "100% weather accuracy," there is no doubt that the service will be extremely helpful, especially for airline and shipping companies who rely on accurate weather data for their travel itineraries.

Aside from helping The Weather Company boost their weather-predicting technology, IBM has also recently struck a deal with The Weather Company that includes the acquisition of digital assets.

An article released by Fortune has stated that David Kenny, the CEO of The Weather Company, is likely to transfer to IBM as part of the two companies' negotiation.

According to people familiar with the matter, IBM will have ownership of cloud-based web properties and mobile technologies that have also been used for the Weather Channel and Weather Underground. The TV segment itself will not be included.

Engadget shares that the acquisition was mainly intended to boost IBM's cognitive system, Watson. In a statement made by the Weather Company CEO, "[The company] will continue to be able to help improve the precision of weather forecasts and further deepen IBM's Watson IoT capabilities."

While IBM has suffered a drop in stock value for the last 14 quarters, news of the acquisition has finally led to a 1.52% increase on early morning of Wednesday.