SLB Acquires Kelvion in $4.1 Billion Deal to Expand Data Center Cooling Services
Schlumberger (SLB), a leading oilfield services provider, has agreed to acquire Kelvion from Apollo Global Management for $4.1 billion. The deal aims to expand SLB's data center cooling solutions business as demand grows in the tech sector driven by AI and cloud computing needs. The acquisition is expected to bolster Schlumberger’s capabilities beyond traditional energy services into high-growth technology infrastructure markets, potentially diversifying its revenue streams. Following news of the transaction, SLB shares rose above a new buy point on Monday morning, signaling investor optimism about the strategic move.
Topics: acquisitions data center cooling systems oilfield services