PRESSR: Vertev acquires Cool Terra to enhance its portfolio of innovations in the field of liquid cooling solutions
The acquisition enhances Vertv's capabilities to support and accelerate the adoption of AI technologies at scale
Dubai, United Arab Emirates: Vertiv, listed on the New York Stock Exchange under the symbol (VRT), and a leading provider of critical digital infrastructure and business continuity solutions, announced today that its subsidiaries have entered into a definitive agreement to acquire all shares of Cool Terra. , an infrastructure provider of refrigerant distribution units and liquid cooling technologies in data centers, as well as certain other assets, including certain contracts, patents, trademarks and intellectual property from one of CoolTerra's subsidiaries.
Founded in 2016, Cool Terra is a UK-based liquid cooling infrastructure solutions provider that designs and manufactures Coolant Distribution Units (CDU), Secondary Fluid Networks (SFN) and manifolds for liquid cooling solutions in data centres. Cool Terra and Vertev have collaborated in a three-year technical partnership to implement multiple global operations in the field of data centers and supercomputing systems. The acquisition of CoolTerra will contribute to adding advanced cooling technologies, extensive expertise in the field, in addition to controls and systems, and advanced manufacturing and testing processes to meet the cooling requirements of high-density computing systems, to Vertev’s advanced portfolio in the field of thermal management, in addition to Strengthening its already existing strong partnerships at the sector level in such areas and applications. Cool Terra has a proven track record of engineering excellence and outstanding customer service backed by a qualified team that includes experienced engineers in the field of liquid cooling systems.
Giordano Albertazzi, CEO of Vertv, said: “This acquisition is consistent with our long-term strategic vision aimed at creating more value for our customers and partners, and will contribute to enhancing our expertise in the field of high-density cooling solutions. This acquisition represents a necessary step to enhance our innovative portfolio of liquid cooling system solutions, improve our ability to meet the requirements of our customers in the data center sector around the world, in addition to consolidating our leadership and capabilities to support accelerating the pace of adoption of artificial intelligence technologies on a large scale.”
For his part, Mark Luxford, Director of CoolTerra, said: “We believe that joining Vertv was right and logical. We are very happy and proud of this step and working under the umbrella of a leading company in the field of thermal management of data centers. Vertv has proven its ability to We are working to expand the scope of technologies at the pace necessary to accelerate the adoption of artificial intelligence applications, and we look forward to working as one team to develop the next generation of liquid cooling technologies in line with the growing demand witnessed by the sector. Vertev is well positioned to meet this demand and support the growth of the sector.”
The acquisition is expected to be completed in the fourth quarter of 2023, subject to conditions and regulatory requirements.
#Corporate data
- I finish -
About Vertiv Company
Vertv (NYSE: VRT) combines hardware, software, analytics and continuous services to ensure its customers' critical applications continue to operate at optimal performance and meet growth and business needs. Vertev works to find sustainable solutions to the most important challenges facing data centers, communications networks, and commercial and industrial facilities through a set of the latest solutions and services for energy, cooling, and IT infrastructure that extends from the cloud to the edge of the network. The company's headquarters is located in Westerville, Ohio, in the United States of America, and the company operates in more than 130 countries around the world. For more information and the latest Vertiv news and content, visit Vertiv.com .
© Press Release 2023
Disclaimer regarding the content of press releases
The content of these press releases is provided by an external provider. We do not accept any responsibility or have permission to control such content. This content is provided on an 'as is' and 'as available' basis and has not been edited in any way. Neither we nor our affiliates will be responsible for ensuring the accuracy, endorsement or completeness of the opinions, views, information or materials contained in such content.
Press releases are provided for informational purposes only; The content does not suggest any advice on legal, investment or tax aspects or any opinions on the suitability, value or profitability of any particular portfolio or investment strategy. Neither we nor our affiliates will be liable for any errors or inaccuracies in the Content, or for any actions you take in reliance on that Content. You expressly agree and acknowledge that you bear full responsibility for the use of the information contained in these press releases.
To the extent permitted by applicable law, Refinitiv, its parent, subsidiaries, affiliates, and their respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors (collectively the “Refinitiv Parties”) will have no liability (either jointly or individually) to you. For any direct, indirect, consequential, special, incidental, punitive or exemplary damages; This includes, but is not limited to: loss of profits, loss of savings or revenue, whether due to negligence, tort, contract or other theories of liability, even if the Refinitiv Parties have been advised of the possibility of any such damages and losses or could have foreseen them. Actually happening.
ZAWYA 2023 ©