Vertiv to Acquire UtilityInnovation Group for Up to $2.6 Billion

Vertiv agreed to acquire UtilityInnovation Group for an initial cash payment of $1.45 billion, with a potential total consideration of $2.6 billion. The remaining $1.15 billion is contingent on the company meeting EBITDA targets over 12- and 24-month periods.

The acquisition aims to resolve power procurement bottlenecks and lengthy utility connection schedules that currently delay AI data center deployments. By integrating expertise in microgrid controls, onsite generation, and energy-storage orchestration, Vertiv intends to extend its capabilities from the electrical grid to the chip. This strategy allows operators to implement behind-the-meter power architecture to monetize facilities faster when grid interconnects are delayed.

Vertiv expects the transaction to be accretive to adjusted earnings per share within the first year following completion. The deal is expected to close in the fourth quarter of 2026, pending regulatory approvals and customary closing conditions.