Vertiv, (NYSE: VRT), a global provider of critical digital infrastructure and continuity solutions, announced that certain of its subsidiaries have entered into a definitive agreement to acquire all of the equity of CoolTera Ltd. (CoolTera), a company specializing in the provision of liquid cooling systems for data centers, and certain assets, including specific contracts, patents, brands and intellectual properties, from a company affiliated with CoolTera.
Formed in 2016 and headquartered in the UK, CoolTera provides liquid cooling infrastructure services and designs and manufactures coolant delivery units (CDUs), secondary fluid networks (SFNs) and manifolds for data center liquid cooling solutions. CoolTera and Vertiv have been technology partners for three years, and have deployed numerous applications globally in data centers and supercomputing systems. The acquisition of CoolTera enhances Vertiv's already broad portfolio of thermal management solutions with advanced cooling technology, strong industry expertise, controls and systems, manufacturing and testing for high-density server cooling requirements, as well as key industry partnerships already in place in 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 and market-recognized liquid cooling engineers.
“This technology acquisition is consistent with our long-term strategic vision for generating value and strengthens our expertise in high-density cooling solutions,” said Giordano Albertazzi, Chief Executive Officer of Vertiv. “From an economic perspective, the purchase price is not relevant to Vertiv, but the acquisition is essential to strengthening our portfolio of liquid cooling solutions, improving our ability to meet the needs of global data center customers and increasing our position and capabilities to support large-scale AI needs.”
“It was a natural choice to join the Vertiv family,” said Mark Luxford, managing director of CoolTera. "We are excited to join the leader in data center thermal management solutions. Vertiv has demonstrated the ability to bring technologies to the level needed for the deployment of artificial intelligence. We are confident that we can work together to deliver next-generation liquid cooling technologies within market reach. Vertiv is well positioned to support the industry's growth momentum."
The acquisition will close in the fourth quarter of 2023, subject to the expected sales conditions.
