SLB to Acquire Kelvion, Expanding Data Center Infrastructure Footprint
SLB sits 85% above its 52-week low of $31.64.
Summary
SLB is acquiring Kelvion for about $3.4 billion in cash from majority owner Apollo and funds advised by Triton. SLB will assume about $700 million of Kelvion debt. Kelvion provides thermal management and heat exchange technologies, and the acquisition strengthens SLB's data center solutions business. SLB expects the deal to generate about $120 million in annual EBITDA synergies within three years. The acquisition expands SLB's role in data center infrastructure and follows a July strategic alliance with Liberty Energy targeting the same sector.
At the time of this announcement, SLB was trading at $58.42 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $85.1B. The 52-week trading range was $31.64 to $58.82. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.