Vertiv proposes $2.6 billion acquisition of UtilityInnovation Group

Vertiv announced plans to acquire microgrid solutions provider UtilityInnovation Group in a transaction that could reach $2.6 billion. About $1.45 billion is due at closing, with up to $1.15 billion contingent on earnings goals over the following 12 to 24 months. UIG provides microgrid controls and behind-the-meter power-architecture design for data centers. Vertiv said the combination would extend its power infrastructure offering toward utility interconnection and onsite power sources. The deal is expected to close later this year, subject to regulatory approvals.