Francisco Partners

One of the largest and most active technology-focused private equity firms globally, with a strong track record in complex carve-outs and technology transformations

Francisco Partners is a San Francisco-based global private equity firm founded in 1999, focused exclusively on investments in technology and technology-enabled businesses. With over $45 billion in capital raised since inception, the firm has completed more than 400 investments across a wide range of technology sectors including software, hardware, healthcare IT, and data & analytics. Francisco Partners is known for acquiring complex carve-outs and underperforming technology assets and transforming them into focused, high-performing businesses. In the AdTech and data ecosystem, Francisco Partners has made significant moves by acquiring two major IBM assets: Merative (formerly IBM Watson Health, acquired June 2022) and The Weather Company (acquired February 2024). The Weather Company is particularly relevant to AdTech, as it operates one of the world's most-visited digital properties and provides weather data, contextual advertising solutions, and audience targeting capabilities to brands and agencies globally. These acquisitions position Francisco Partners as an indirect but influential player in the data-driven advertising and media space. Francisco Partners' investment thesis centers on unlocking value in technology businesses through operational improvements, strategic focus, and growth investment. The firm's portfolio companies collectively serve enterprise clients across media, healthcare, financial services, and government sectors. While Francisco Partners itself is not an AdTech vendor, its ownership of data-rich, consumer-facing platforms like The Weather Company makes it a significant force in the broader advertising technology and digital media landscape.