🇺🇸Vertiv agreed to acquire microgrid and behind-the-meter power specialist UtilityInnovation Group for $1.45 billion.

Vertiv Holdings announced that its wholly owned subsidiary, Vertiv Corporation, entered into an agreement and plan of merger to acquire Utility Innovation Holdings. The target operates as UtilityInnovation Group, or UIG.

The announced transaction value was $1.45 billion. The source describes an agreed acquisition rather than a completed transaction.

UtilityInnovation Group specializes in microgrid solutions, advanced power controls and behind-the-meter power. Vertiv identifies its own business as critical digital infrastructure.