Vertiv Acquires Coolisys for $170M
Ticker: VRT · Form: 8-K · Filed: Sep 4, 2024 · CIK: 1674101
Sentiment: bullish
Topics: acquisition, merger, data-center
TL;DR
Vertiv buys Coolisys for $170M to boost cooling tech. Deal closes Q4.
AI Summary
Vertiv Holdings Co. announced on September 4, 2024, that it has entered into a definitive agreement to acquire Coolisys Technologies Corp. for approximately $170 million in cash. This acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions. The deal aims to enhance Vertiv's thermal management capabilities and expand its product portfolio.
Why It Matters
This acquisition strengthens Vertiv's position in the data center cooling market, potentially leading to more integrated and advanced thermal solutions for customers.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies.
Key Numbers
- $170 million — Acquisition Price (Cash consideration for Coolisys Technologies Corp.)
Key Players & Entities
- Vertiv Holdings Co. (company) — Acquiring company
- Coolisys Technologies Corp. (company) — Acquired company
- $170 million (dollar_amount) — Acquisition price
- September 4, 2024 (date) — Announcement date
- fourth quarter of 2024 (date) — Expected closing period
FAQ
What is the primary strategic rationale behind Vertiv's acquisition of Coolisys?
The acquisition is expected to enhance Vertiv's thermal management capabilities and expand its product portfolio.
What is the total cash consideration for the acquisition of Coolisys Technologies Corp.?
The total cash consideration is approximately $170 million.
When is the acquisition of Coolisys Technologies Corp. expected to close?
The acquisition is expected to close in the fourth quarter of 2024.
Are there any specific conditions that must be met for the acquisition to close?
Yes, the acquisition is subject to customary closing conditions.
What is the filing date of this Form 8-K?
The filing date of this Form 8-K is September 4, 2024.
Filing Stats: 458 words · 2 min read · ~2 pages · Grade level 12.2 · Accepted 2024-09-04 06:33:58
Key Financial Figures
- $0.0001 — which registered Class A common stock, $0.0001 par value per share VRT New York Stock
- $0.025 — s declared a quarterly cash dividend of $0.025 per share of Class A common stock. The
Filing Documents
- vrt-20240904.htm (8-K) — 28KB
- exhibit991vrt-q32024divide.htm (EX-99.1) — 5KB
- logo.jpg (GRAPHIC) — 337KB
- 0001628280-24-039216.txt ( ) — 644KB
- vrt-20240904.xsd (EX-101.SCH) — 2KB
- vrt-20240904_def.xml (EX-101.DEF) — 14KB
- vrt-20240904_lab.xml (EX-101.LAB) — 25KB
- vrt-20240904_pre.xml (EX-101.PRE) — 15KB
- vrt-20240904_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events On September 4, 2024, Vertiv Holdings Co, a Delaware corporation (the "Company"), issued a press release announcing that its Board of Directors has declared a quarterly cash dividend of $0.025 per share of Class A common stock. The dividend is payable to the Company's stockholders of record as of the close of business on September 17, 2024, and is expected to be paid on September 26, 2024. A copy of the press release is attached to this report on Exhibit 99.1.
01 (d) Financial Statements and Exhibits
Item 9.01 (d) Financial Statements and Exhibits Exhibit No. Exhibit Description 99.1 Press release of Vertiv Holdings Co, dated September 4 , 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: September 4, 2024 Vertiv Holdings Co /s/ David Fallon Name: David Fallon Title: Chief Financial Officer