Vertiv closes $1.45B UtilityInnovation Group deal for data center power

Vertiv completed its acquisition of UtilityInnovation Group, a microgrid and behind-the-meter power specialist for data centers, for about $1.45 billion in upfront cash plus up to $1.15 billion in earnouts tied to EBITDA targets. The price is about 13x expected 2027 EBITDA.

Why it matters: It extends Vertiv upstream to the grid interconnect as power constraints increasingly limit AI data center buildouts.