Vertiv has agreed to acquire UtilityInnovation Group for approximately $1.45 billion in cash, expanding its position in microgrids and behind-the-meter power systems for data centers.
The agreement also includes up to $1.15 billion in additional cash payments if UIG reaches specified earnings targets. Vertiv expects the transaction to close during the fourth quarter of 2026, subject to regulatory approvals and customary closing conditions.
UIG designs microgrid systems, advanced power controls and behind-the-meter power architectures. Its technology includes proprietary controls and pre-engineered microgrid switchgear that can coordinate utility power, onsite generation and energy storage.
Vertiv said the acquisition will extend its infrastructure portfolio upstream to the utility interconnection and onsite power sources. The company already supplies critical power and cooling equipment used throughout data centers.
Power availability has become a major constraint on new AI data center construction. Some developers face long waits for utility interconnections or cannot obtain the full amount of power required for planned campuses.
UIG was founded in 2020 and is headquartered in Raleigh, North Carolina, with European headquarters in Dublin and manufacturing in North Carolina and New Jersey. Reuters independently confirmed the transaction and its connection to rising AI power demand.
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