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SLB’s $3.4B Kelvion Deal Targets AI Data Center Cooling Boom
- On Monday, August 31, 2026, SLB announced an agreement to acquire Kelvion for approximately $3.4 billion in cash, strengthening its Data Center Solutions capabilities in the rapidly expanding AI infrastructure market.
- Energy-Intensive data centers require advanced cooling solutions to maintain efficiency and performance as customers seek partners to scale capacity faster, driving SLB's acquisition strategy in this growing market.
- SLB will assume approximately $0.7 billion of debt and expects approximately $120 million in annual EBITDA synergies within three years, while combined 2026 data center revenue is projected to exceed $2 billion.
- "Thermal management is central to that challenge," said Gavin Rennick, president of SLB's New Energy and Industrial business, noting the acquisition embeds cooling into modular infrastructure to improve system efficiency.
- By 2028, SLB targets revenue of $4.5 billion to $5 billion and adjusted EBITDA of $700 million to $800 million for its combined Data Center Solutions business, reinforcing long-term growth ambitions.
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SLB’s $3.4B Kelvion Deal Targets AI Data Center Cooling Boom
SLB (NYSE:SLB) said it has agreed to acquire thermal management and heat-exchange technology provider Kelvion in a transaction valued at approximately $3.4 billion in cash, plus the assumption of about $700 million in debt. The company expects the acquisition to close in the first half of 2027, subj
·Sioux Falls, United States
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SLB to expand data center business with $3.4 billion deal for Kelvion
·London, United Kingdom
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SLB acquired the thermal management company Kelvion from private equity funds for US$4.1 billion. Exclusive content for subscribers. For full access, follow the link to the article and register.
·Rio de Janeiro, Brazil
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Total News Sources22
Leaning Left0Leaning Right6Center5Last UpdatedBias Distribution55% Right
Bias Distribution
- 55% of the sources lean Right
55% Right
C 45%
R 55%
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