Vertiv Is Putting $1.45 Billion Down for AI Power. Nearly Half the Price Is Contingent.

Vertiv, a company specializing in data center power and cooling equipment, announced on Wednesday a deal to acquire UtilityInnovation Group (UIG), a designer of on-site power systems for AI data centers. The purchase price of $2.6 billion is split, with $1.45 billion payable in cash and the remaining $1.15 billion contingent on UIG meeting earnings targets.

UIG, founded in 2020, creates microgrids for data center operators in the US and EU, including controls platforms and switchgear that manage multiple power sources. Vertiv CEO Gio Albertazzi believes UIG's acquisition will enable Vertiv to enter the conversation earlier in the site selection process and keep customers from relying on a single power generation technology or supplier.

The deal is expected to close in Q4 2026, subject to regulatory approval, and should boost Vertiv's adjusted earnings per share in its first year.