Acquisition strengthens nVent’s global offering in data centers and networking solutions
Expands capabilities in advanced technologies in power management with the addition of intelligent rack power distribution and server slides
Enhances nVent’s positioning with the electrification of everything megatrends
nVent Electric plc a global leader in electrical connection and protection solutions, announced it has completed the previously announced acquisition of CIS Global, a leading provider of intelligent rack power distribution and server slides products. CIS Global was acquired for a cash purchase price of approximately $200 million, subject to customary adjustments, and had more than $80 million in sales in 2020.
Recommended AI News: Gopuff Launches New Ad Platform Powered By CitrusAd
“The increasing demand for electrifying the world around us is sparking a dramatic increase in the need for protecting, powering and managing heat in large data centers and edge computing applications,” said nVent Enclosures President Joe Ruzynski. “With CIS Global’s innovative solutions in intelligent rack power distribution and proven capabilities in server slides, we will accelerate our growth plan centered around electrification, which includes providing leading technologies in heat and power management for data center and networking applications.”
Recommended AI News: Xiaomi Teams up With Marvel Studios for the Launch of ‘Black Widow’
“We are excited to join the nVent family. nVent has a strong vision and approach to business that closely aligns with our core values around customers, innovation and people,” said CIS Global Business President Shubhayu Chakraborty. “Our portfolio is complementary to nVent’s, which when combined, allows us to bring a greater breadth of solutions to our customers and expands our value proposition to a broader base through an extended global reach.”
Recommended AI News: Third Iron Announces Available LibKey Integration With eReserve Plus
Comments are closed.