WASHINGTON (dpa-AFX) - Vertiv Holdings Co. (VRT) on Wednesday said its unit Vertiv Corporation has agreed to acquire Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group (UIG), a provider of microgrid solutions, advanced power controls, and behind-the-meter power architecture design for data centers, for $1.45 billion in cash.
The deal includes an additional $1.15 billion payable upon meeting certain earnings before interest, taxes, depreciation and amortization (EBITDA) targets over 12- and 24-month periods.
The initial purchase price values UIG at approximately 13 times expected 2027 EBITDA. Vertiv expects the deal to be accretive to adjusted earnings per share in the first year after completion.
The acquisition expands Vertiv's power capabilities upstream into the utility interconnect, onsite power generation, microgrid controls and energy storage, allowing it to offer customers a more integrated power architecture for data centers.
'Vertiv has the most complete power and cooling portfolio in the industry. With UIG, we anticipate extending that portfolio upstream to the utility interconnect and onsite power sources, creating a coordinated architecture from source to chip without tying customers to a single generation technology or supplier,' said Gio Albertazzi, Chief Executive Officer, Vertiv. 'Together, we anticipate being better positioned to support grid-connected sites, bridge-to-grid deployments and islanded sites supplied by onsite generation, while reducing complexity from site planning through rack-level deployment. This broader capability can help customers accelerate time to power and, ultimately, time to first token.'
The transaction is expected to close in the fourth quarter of 2026.
VRT shares were down more than 1% in pre-market trading after closing at $255.97 on Tuesday.
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