Data Center
Vertiv has agreed to acquire Italy-based ThermoKey S.p.A. as part of its strategy to expand advanced cooling solutions for high-density AI data centers.
The deal, expected to close in the second quarter of 2026 subject to regulatory approvals, will enhance Vertiv’s thermal management portfolio and manufacturing footprint, particularly across Europe, the Middle East and Africa (EMEA). The acquisition is aimed at strengthening Vertiv’s ability to deliver integrated, end-to-end cooling systems for increasingly power-intensive AI infrastructure.
ThermoKey, founded in 1991, brings more than three decades of expertise in heat exchangers, dry coolers and microchannel-based cooling technologies. Its solutions are widely used in data centers and industrial applications, with established relationships across global OEMs and system integrators.
Vertiv said the addition of ThermoKey’s technologies will expand its capabilities across the full thermal chain, enabling customers to better optimise cooling strategies across air, liquid and heat rejection systems. This is becoming critical as AI workloads drive higher compute densities, increasing the need for efficient heat management and energy optimisation.
Giordano Albertazzi said heat rejection is emerging as a key challenge for next-generation data centers, with operators seeking more efficient ways to scale capacity and improve energy performance. He added that ThermoKey’s engineering capabilities and product portfolio will broaden the options available to customers deploying advanced cooling architectures.
The acquisition also provides Vertiv with additional production capacity and engineering resources to meet rising demand for thermal infrastructure, as enterprises and hyperscalers accelerate investments in AI data centers.
By integrating ThermoKey’s portfolio—including heat exchangers, condensers and liquid cooling systems—Vertiv aims to strengthen its position in delivering system-level cooling solutions that can support evolving compute requirements and future generations of AI workloads.
The deal, expected to close in the second quarter of 2026 subject to regulatory approvals, will enhance Vertiv’s thermal management portfolio and manufacturing footprint, particularly across Europe, the Middle East and Africa (EMEA). The acquisition is aimed at strengthening Vertiv’s ability to deliver integrated, end-to-end cooling systems for increasingly power-intensive AI infrastructure.
ThermoKey, founded in 1991, brings more than three decades of expertise in heat exchangers, dry coolers and microchannel-based cooling technologies. Its solutions are widely used in data centers and industrial applications, with established relationships across global OEMs and system integrators.
Vertiv said the addition of ThermoKey’s technologies will expand its capabilities across the full thermal chain, enabling customers to better optimise cooling strategies across air, liquid and heat rejection systems. This is becoming critical as AI workloads drive higher compute densities, increasing the need for efficient heat management and energy optimisation.
Giordano Albertazzi said heat rejection is emerging as a key challenge for next-generation data centers, with operators seeking more efficient ways to scale capacity and improve energy performance. He added that ThermoKey’s engineering capabilities and product portfolio will broaden the options available to customers deploying advanced cooling architectures.
The acquisition also provides Vertiv with additional production capacity and engineering resources to meet rising demand for thermal infrastructure, as enterprises and hyperscalers accelerate investments in AI data centers.
By integrating ThermoKey’s portfolio—including heat exchangers, condensers and liquid cooling systems—Vertiv aims to strengthen its position in delivering system-level cooling solutions that can support evolving compute requirements and future generations of AI workloads.
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