International Business Machines (NYSE: IBM) made a multi-billion-dollar bet on data and the Internet of Things in 2016 with the acquisition of The Weather Company's business-to-business, mobile, and web properties. While IBM never disclosed the price tag, the deal was estimated at over $2 billion.

The rationale for the acquisition revolved around data. The Weather Company's corporate clients used the company's data, collected from public sources as well as nearly 150,000 small weather stations, in a variety of ways. Airlines used it to minimize the impact of turbulence, and insurance companies used it as a risk assessment tool.

Since that deal, IBM's strategy has shifted. The company has narrowed its focus to two areas: Hybrid cloud computing and artificial intelligence. Through its software, hardware, and consulting segments, IBM helps enterprise customers increase productivity and decrease costs through its broad cloud and AI offerings.

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Source Fool.com