SynopsisThe oilfield services company will also assume about $700 million of Kelvion's debt under the deal, which is expected to close in the first half of 2027.AgenciesSLB on Monday said it will acquire cooling equipment maker Kelvion from Apollo Global for $3.4 billion in cash, expanding its data center business as rapid AI adoption drives demand for power and cooling infrastructure.The oilfield services company will also assume about $700 million of Kelvion's debt under the deal, which is expected to close in the first half of 2027.The acquisition of Kelvion, majority owned by Apollo-managed funds, is expected to strengthen SLB's data center solutions business with critical thermal management technologies.SLB will also acquire funds advised by Triton, which hold a minority interest in the cooling equipment maker. ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now
SLB to expand data center business with $3.4 billion deal for Kelvion - The Economic Times
The oilfield services company will also assume about $700 million of Kelvion's debt under the deal, which is expected to close in the first half of 2027.
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