Shenzhen, China - December 4, 2023- As a global provider of critical digital infrastructure and continuity solutions, Vertiv (NYSE: VRT) announced that its subsidiary has reached a formal agreement to acquire all shares and related assets of CoolTera Ltd. (CoolTera), a data center liquid cooling technology infrastructure provider, including related contracts, patents, trademarks, and intellectual property rights of CoolTera's affiliated companies.
CoolTera was founded in 2016 and is a data center liquid cooling infrastructure solution manufacturer headquartered in the UK. It has professional original factory R&D, design, and manufacturing capabilities for cooling distribution units (CDUs), secondary side piping (SFNs), and Manifolds. With a high-quality and experienced team of liquid cooling engineers, CoolTera provides customers with excellent engineering design and strong customer service.
Vertiv and CoolTera have been closely collaborating in the field of liquid cooling technology for three years, jointly deploying multiple data centers and supercomputing systems worldwide.
This acquisition has brought cutting-edge technology, advanced control functions and systems, professional production, manufacturing, and testing capabilities to Vertiv in high heat density liquid cooling scenarios, further enhancing Vertiv's thermal management product system. In addition, CoolTera has a key partnership in the liquid cooling ecosystem, which will further expand Vertiv's industry influence.
Vertiv CEO Giordano Albertazzi said, "This reinforcement acquisition is of great significance. It not only aligns with Vertiv's long-term strategic vision of value creation, but also further strengthens its professional capabilities in high heat density liquid cooling solutions, better meets the needs of global data center customers in AI scenarios, and thus consolidates Vertiv's industry position."
Mark Luxford, Managing Director of CoolTera, said, "As a leading enterprise in the field of data center thermal management, we are thrilled that CoolTera can join us. Vertiv demonstrates its fast and flexible deployment technology capabilities in AI scenarios, laying the foundation for the growth of the computing industry. We look forward to bringing the next generation of liquid cooling technology to the scaled intelligent computing market through team collaboration. Therefore, I believe that joining Vertiv is the right decision."
This acquisition is subject to conventional contract delivery conditions and is expected to be completed in the fourth quarter of 2023.
