Vertiv, a principal supplier to Airtel Africa’s planned 42-megawatt data centre in Nigeria, has agreed to pay as much as $2.6 billion for technology designed to help electricity-hungry artificial-intelligence facilities operate beyond the limits of conventional power grids.
The US-listed company announced on September 2 that it would acquire North Carolina-based UtilityInnovation Group, or UIG.
Vertiv will pay approximately $1.45 billion in cash when the transaction closes. It could pay a further $1.15 billion if UIG meets specified earnings targets over the following 12 and 24 months.
The $2.6 billion figure is therefore the maximum potential consideration, not the amount guaranteed to be paid.
The transaction is expected to close during the fourth quarter of 2026, subject to regulatory approvals.
