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SLB Acquires Kelvion from Apollo for $3.4 Billion in Cash
SLB is acquiring German thermal management and cooling systems manufacturer Kelvion from investment fund Apollo. The deal is aimed at strengthening SLB's data center cooling capabilities for AI infrastructure. Closing is expected in 2027, subject to regulatory approvals.
American company SLB is acquiring German thermal management and cooling systems specialist Kelvion from investment fund Apollo. The strategic goal of the acquisition is to strengthen SLB's position in the data center cooling segment and address challenges associated with the growing complexity of AI infrastructure.
Deal terms:
- Price: approximately $3.4 billion USD in cash
- Assumed liabilities: approximately $0.7 billion USD
Closing of the transaction is expected in 2027, subject to obtaining necessary regulatory approvals.
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