SLB Expands Into Data-Centre Infrastructure With $4.1 Billion Kelvion Acquisition

Key Takeaways : 

* $4.1 billion total transaction value: SLB will pay $3.4 billion in cash and assume about $700 million of Kelvion's debt. ([Reuters][1])

* Data centres are Kelvion's largest and fastest-growing end market, giving SLB exposure to a rapidly expanding infrastructure segment.

* The acquisition is expected to more than double SLB's revenue opportunity per gigawatt of delivered data-centre capacity through Kelvion's thermal-management technology.

* SLB expects its combined data-centre solutions business to generate $4.5–$5 billion in revenue and $700–$800 million in adjusted EBITDA by 2028. 

Full Briefing : 

SLB is using a major acquisition to deepen its position in the physical infrastructure supporting the data-centre buildout. Kelvion adds thermal-management technology to SLB's existing capabilities, expanding the range of equipment and services it can provide to data-centre customers. 

The transaction also illustrates how companies traditionally rooted in industrial and energy markets are moving into adjacent infrastructure markets created by AI. SLB has already partnered with Liberty Energy on modular components and power for data centres and with Nvidia on an AI platform for energy companies. 

The executive signal: the AI infrastructure opportunity is expanding beyond chips and computing capacity into the power, cooling and industrial systems required to operate increasingly dense data centres. SLB is positioning itself to capture more of that physical infrastructure spend. 

Source : https://www.reuters.com/business/energy/slb-acquire-kelvion-34-billion-2026-08-31/?utm_source=

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