Vertiv to Acquire UtilityInnovation Group to Speed AI Data Center Power Delivery
Vertiv has announced an agreement to acquire UtilityInnovation Group for approximately $1.45 billion. The deal aims to accelerate power delivery to AI data centers.
Vertiv, a provider of data center solutions, has announced it has entered into an agreement to acquire UtilityInnovation Group (UIG) for approximately $1.45 billion. The acquisition is intended to accelerate the delivery of power, particularly to data centers supporting artificial intelligence (AI) applications which often have significant power and grid demands.
UIG's technologies, including microgrid controls, on-site generation orchestration, and behind-the-meter power architecture, will expand Vertiv's portfolio. This move supports Vertiv's strategy to address the growing demand from data centers requiring increasingly efficient and reliable power solutions.
Vertiv CEO Anand Kripalu stated that the acquisition is expected to significantly expand the company's addressable market in power-constrained data centers. UIG's expertise in microgrid technology and power orchestration complements Vertiv's existing capabilities.
Both companies operate within the data center infrastructure sector, with UIG's solutions being integral to power management advancements. The transaction is anticipated to close in the third quarter of 2024, subject to customary regulatory approvals.