Vertiv Acquisition of CoolTera Ltd. Boosts Liquid Cooling Portfolio
04 Dezember 2023 - 12:00PM
Business Wire
Deal to strengthen Vertiv’s capabilities to
support deployment of AI at scale
Vertiv (NYSE: VRT), a global provider of critical digital
infrastructure and continuity solutions, today announced that
subsidiaries of the company have entered into a definitive
agreement to acquire all of the shares of CoolTera Ltd. (CoolTera),
a provider of coolant distribution infrastructure for data center
liquid cooling technology and certain assets, including certain
contracts, patents, trademarks, and intellectual property from an
affiliate of CoolTera.
Founded in 2016 and based in the UK, CoolTera provides liquid
cooling infrastructure solutions, and designs and manufactures
coolant distribution units (CDU), secondary fluid networks (SFN),
and manifolds for data center liquid cooling solutions. CoolTera
and Vertiv have been technology partners for three years with
multiple global deployments to data centers and super compute
systems. The acquisition of CoolTera brings advanced cooling
technology, deep domain expertise, controls and systems, and
manufacturing and testing for high density compute cooling
requirements to Vertiv’s already robust thermal management
portfolio, as well as key industry partnerships already in place
across the ecosystem for such applications. CoolTera has a proven
track record of engineering excellence and strong customer service
supported by a team of highly qualified, proven liquid cooling
engineers.
“This bolt-on technology acquisition is consistent with our
long-term strategic vision for value creation, and further
strengthens our expertise in high-density cooling solutions,” said
Giordano Albertazzi, Chief Executive Officer, Vertiv. “And while
the purchase price is not material to Vertiv, the acquisition is
essential to further reinforce our liquid cooling portfolio,
enhancing our ability to serve the needs of our global data center
customers and strengthening our position and capabilities to
support the needs of AI at scale.”
“It was a logical decision to join the Vertiv family,” said Mark
Luxford, CoolTera’s Managing Director. “We are excited to join the
leader in data center thermal management. Vertiv has demonstrated
the ability to scale technologies at a pace that is needed for AI
deployment. We look forward to working as a team to deliver next
generation liquid cooling technologies at the scale the industry
requires. Vertiv is well-positioned to support the industry
growth.”
The acquisition is expected to close in the fourth quarter of
2023, subject to customary closing conditions.
About Vertiv
Vertiv (NYSE: VRT) brings together hardware, software, analytics
and ongoing services to enable its customers’ vital applications to
run continuously, perform optimally and grow with their business
needs. Vertiv solves the most important challenges facing today’s
data centers, communication networks and commercial and industrial
facilities with a portfolio of power, cooling and IT infrastructure
solutions and services that extends from the cloud to the edge of
the network. Headquartered in Westerville, Ohio, USA, Vertiv does
business in more than 130 countries. For more information, and for
the latest news and content from Vertiv, visit Vertiv.com.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27 of the Securities Act, and Section 21E of the Securities
Exchange Act. These statements are only a prediction. Actual events
or results may differ materially from those in the forward-looking
statements set forth herein. Readers are referred to Vertiv’s
filings with the Securities and Exchange Commission, including its
most recent Annual Report on Form 10-K and any subsequent Quarterly
Reports on Form 10-Q for a discussion of these and other important
risk factors concerning Vertiv and its operations. Vertiv is under
no obligation to, and expressly disclaims any obligation to, update
or alter its forward-looking statements, whether as a result of new
information, future events or otherwise.
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For investor inquiries, please contact: Lynne Maxeiner
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+1 614-841-6776 E: lynne.maxeiner@vertiv.com For media
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Vertiv E: sara.steindorf@fleishman.com
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