Vertiv Agrees $2.6 Billion AI Power Deal As Airtel Africa Builds Nigerian Data Centre

• Vertiv will pay $1.45 billion in cash for UtilityInnovation Group.

• Another $1.15 billion is tied to earnings targets over two years.

• Vertiv is supplying power and cooling equipment to Airtel Africa’s Nigerian data centre.

• No deal has been announced to install UIG technology at the Nigerian facility.

September 04, () — Vertiv has agreed to acquire UtilityInnovation Group for up to $2.6 billion, expanding its ability to manage power supplies for data centres as electricity demand from artificial intelligence grows.

About $1.45 billion will be paid in cash at closing, while as much as $1.15 billion could follow if UIG meets specified earnings targets over the next 12 and 24 months, Vertiv said on Sept. 2.

Completion is expected in the fourth quarter of 2026, subject to regulatory approvals and other customary conditions.

North Carolina-based UIG develops microgrid controls, specialised switchgear and systems that coordinate electricity from utility networks, on-site generators and energy storage.

Vertiv said the acquisition will allow it to address power requirements beyond the equipment inside a data centre, including the connection between facilities and electricity sources.

“For AI data center operators, competitive advantage increasingly depends on how quickly they can move from site selection to first token,” Vertiv Chief Executive Gio Albertazzi said.

Vertiv’s Link To Airtel Africa’s Nigerian Data Centre

Vertiv already has a role in Airtel Africa’s expansion of data-centre capacity through Nxtra by Airtel Africa.

In October 2025, Vertiv said it had been selected as a main vendor for Nxtra’s data centre in Lagos. Its contract covers thermal-management equipment, uninterruptible power systems and batteries, as well as commissioning and five years of maintenance support.

Vertiv puts the planned capacity of the Nigerian facility at 42 megawatts, with four construction phases scheduled to be completed by 2028.

Airtel Africa’s website currently gives the capacity as 38MW for the same Lagos hyperscale facility. Neither company has publicly explained the difference, making it safer to attribute the 42MW figure specifically to Vertiv.

Nxtra Chief Executive Yash Issur said the company wanted a supplier with international expertise and local support.

“It was crucial to partner with a vendor who combines global capabilities with strong local presence,” Issur said in Vertiv’s announcement.

Beyond Nigeria, Vertiv has said it is working with Nxtra on potential projects in other African markets, including Nairobi. It has not disclosed whether UIG’s microgrid systems would be used on those projects.

No announcement has linked the newly acquired technology to the Lagos facility either. Vertiv’s acquisition therefore adds to its capabilities without changing the publicly announced specifications or construction schedule for Nxtra’s Nigerian project.

For data-centre operators, reliable electricity is becoming harder to separate from decisions about where and when facilities can be built. Large AI installations can require far more power than existing grid connections can readily provide, while new utility connections may take years.

UIG’s systems are designed to coordinate several sources of electricity, including the public grid, generators and batteries. Such systems can give operators more control over how a facility receives and distributes power when grid capacity is constrained.

Vertiv expects the acquisition to add to adjusted earnings per share in the first full year after completion. At the initial purchase price, it values UIG at about 13 times the company’s projected 2027 adjusted earnings before interest, taxes, depreciation and amortisation.

Airtel Africa has been expanding Nxtra as demand for cloud computing, enterprise applications and other digital services increases across its markets.

As of March 31, 2026, Airtel Africa had 84.2 million data customers, while customers used 8,414 billion GB of dataduring the 2025/26 financial year.

Nxtra says its planned African network will provide capacity for enterprises, governments, cloud providers and other customers. For Vertiv, adding microgrid technology broadens the range of power infrastructure it can offer as those facilities are developed.