SLB rises after $3.4 billion Kelvion buyout announcement
SLB•Deal and outlook for data center solutions
- SLB expects its combined data center solutions business to generate $4.5 billion–$5 billion in revenue and $700 million–$800 million in adjusted EBITDA by 2028.
- The company said data centers are Kelvion's largest and fastest-growing end market.
- The deal is expected to close in the first half of 2027.
- Including session moves, the stock has risen more than 57% year to date.
- Of 30 brokerages covering the stock, 26 rate it "buy" or above, two rate it "hold" and two rate it "sell"; the median price target is $63, according to data compiled by LSEG.
Shares rise on Kelvion acquisition announcement
- Shares of U.S. oil services provider SLB N.V. SLB.N rose more than 5% to $60.
- The company said it will acquire cooling solutions provider Kelvion from Apollo Global and funds managed by Triton for $3.4 billion.
- SLB said the acquisition will strengthen its Data Center Solutions business and expand its role in data centre infrastructure.
- Rapid AI adoption is driving demand for power and cooling infrastructure.
