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SLBBullishM&Anews

High materiality8/10

SLB to Acquire Kelvion, Expanding Data Center Solutions and AI Infra

Aug 31, 2026, 6:53 AM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Announces a transformative asset expansion with accretive near-term EPS/FCF, supported by expected synergies and strong pro forma benchmarks; expected to recalibrate SLB's growth trajectory into AI-driven data-center markets.

AI summary

What happened, with direct paths to the underlying reporting

SLB announced the acquisition of Kelvion for about $3.4 billion in cash, plus roughly $0.7 billion of debt assumed, creating a larger data center solutions platform. Pro forma 2026 data-center revenue exceeds $2 billion with approximately $300 million EBITDA; 2028 targets are $4.5–5 billion in revenue and $700–$800 million EBITDA, supported by roughly $120 million in annual run-rate synergies.

SLB to acquire Kelvion for about $3.4B cash, with ~$0.7B debt assumed.
Expands SLB's Data Center Solutions with advanced thermal management and heat-exchange tech.
2026 pro-forma data-center revenue >$2B; 2028 EBITDA target $700–$800M.
Closing expected H1 2027 with ~120M annual EBITDA synergies within 3 years.

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