Transaction expected to increase customer optionality across the thermal chain to optimize power utilization and energy efficiency for AI-ready data centers
Dubai, UAE [March 26, 2026] – Vertiv (NYSE: VRT), a global leader in critical digital infrastructure, today announced it has entered into an agreement to acquire ThermoKey S.p.A., a leading provider of heat rejection and heat-exchange technologies with long-standing relationships across original equipment manufacturers (OEMs) and system integrators, as part of Vertiv’s continued investment in advanced cooling solutions to support high-density AI data centers.
Upon closing, the acquisition is expected to expand Vertiv’s thermal management portfolio and manufacturing capabilities, particularly in EMEA, and strengthen its ability to deliver comprehensive solutions across the end-to-end thermal chain for AI factories and high-density data centers.
ThermoKey’s portfolio of dry coolers and microchannel-based heat-exchange solutions complements Vertiv’s existing capabilities, giving customers flexibility to optimize for performance, site conditions, and future growth.
“Heat rejection is becoming increasingly critical for data centers and AI factories as the industry seeks new ways to unlock capacity, improve energy efficiency, and scale with confidence,” said Giordano Albertazzi, CEO at Vertiv.
Founded in 1991 and based in Italy, ThermoKey brings more than three decades of engineering and manufacturing expertise in heat exchangers for data center cooling and other demanding applications.
The acquisition is expected to enhance Vertiv’s ability to support integrated, system-level thermal architectures, optimize across liquid and air cooling, and expand access to advanced cooling technologies across EMEA markets.
The transaction remains subject to customary closing conditions and regulatory approvals, with completion anticipated in the second quarter of 2026.
