Vertiv completed the acquisition of Utility Innovation Group, including approximately $1.45 billion in upfront cash and up to $1.15 billion in additional cash payments. The acquisition expands its data center power capabilities into areas including microgrid control and the integrated operation of on-site generation and energy storage.
Vertiv Holdings Co. completed the acquisition of Utility Innovation Holdings Inc. through a wholly owned subsidiary. Upfront cash was approximately $1.45 billion, and the transaction includes up to $1.15 billion in additional cash contingent on the achievement of EBITDA targets during 12-month and 24-month measurement periods.
UIG focuses on designing microgrid solutions, advanced power control systems and on-site power architectures for data centers. Vertiv said the acquisition will extend its capabilities upstream to the point of interconnection with the power grid, strengthening its contribution to microgrid control, the integrated operation of on-site generation and energy storage, and on-site power architectures.
Vertiv explained that following integration, the acquisition is expected to accelerate access to power, enhance the ability to expand site capacity beyond the limits of power supplied solely by the grid, and establish an integrated offering from the point of interconnection to the rack level.