India, Sept. 2 -- Vertiv Holdings Co. (VRT) on Wednesday said its unit Vertiv Corporation has agreed to acquire Utility Innovation Holdings, Inc., which operates as UtilityInnovation Group (UIG), a provider of microgrid solutions, advanced power controls, and behind-the-meter power architecture design for data centers, for $1.45 billion in cash.
The deal includes an additional $1.15 billion payable upon meeting certain earnings before interest, taxes, depreciation and amortization (EBITDA) targets over 12- and 24-month periods.
The initial purchase price values UIG at approximately 13 times expected 2027 EBITDA. Vertiv expects the deal to be accretive to adjusted earnings per share in the first year after completion.
The acquisition expa...