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00:03SLB agreed to acquire German cooling equipment maker Kelveon for $3.4 billion in cash as it
00:09expands its data center solutions business, according to Bloomberg. The company will also
00:14assume $700 million in debt, with the transaction expected to close in the first half of 2027.
00:20Kelveon is majority owned by Apollo-managed funds, while Triton-advised funds hold a minority stake.
00:27The acquisition will add cooling technology to SLB's fast-growing data center business,
00:32which designs and supplies modular infrastructure for computing facilities,
00:36as artificial intelligence drives U.S. data center construction.
00:41Kelveon also supplies products for carbon capture and hydrogen production.
00:45SLB shares rose 1.3% in Monday pre-market trading.
00:49For all things money, visit Benzinga.com.
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