Schneider Electric has announced its plan to acquire a controlling stake in Motivair, a company specializing in high-performance computing liquid cooling technology, for approximately $850 million. This strategic, all-cash transaction is set to conclude in the coming quarters, with Schneider acquiring a 75% stake in the U.S.-based company headquartered in Buffalo, New York. Schneider also intends to purchase the remaining shares by 2028.
The acquisition aims to enhance Schneider's capabilities in providing direct-to-chip liquid cooling and large-scale thermal systems, crucial for the rapidly expanding data center sector. Motivair's advanced technology efficiently cools servers by pumping coolant at high pressures in proximity to the chips, according to Schneider's CEO, Peter Herweck.
With data centers and networks accounting for 21% of Schneider's 2023 orders, representing approximately €8 billion ($8.7 billion) in sales, the company is on track for double-digit growth in this sector.
