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● TRACKER Updated 14d ago · 7 sources tracked

SLB to Buy Data Center Cooling Firm Kelvion for $4.1 Billion

SLB is acquiring Kelvion, a thermal management technology developer, to expand its role in data center infrastructure. While sources disagree on the final price, multiple reports cite a deal value of $4.1 billion, while others state $3.4 billion. The acquisition targets Kelvion's data center segment, which has become the firm's largest and fastest-growing business unit. SLB stock rose following the announcement of the deal. Apollo and Triton have agreed to sell the company to the Houston-based firm, formerly known as Schlumberger.

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  • ✓ SLB is acquiring data center cooling firm Kelvion.
  • ✓ SLB was formerly known as Schlumberger.
  • ✓ SLB stock rose following the deal announcement.
🛡️ Source Corroboration: 7 independent reporting domains (70% confidence) ⏱ Read time: ~2 min

What changed

SLB announced the acquisition of Kelvion from Apollo and Triton to grow its data center business.

Live updates

  1. SLB to Acquire Data Center Cooling Firm Kelvion

    SLB is acquiring Kelvion, a thermal management technology developer, to expand its role in data center infrastructure. While sources disagree on the final price, multiple reports cite a deal value of $4.1 billion, while others state $3.4 billion. The acquisition targets Kelvion's data center segment, which has become the firm's largest and fastest-growing business unit. SLB stock rose following the announcement of the deal. Apollo and Triton have agreed to sell the company to the Houston-based firm, formerly known as Schlumberger.

    Why it matters

    The move signals a strategic shift for SLB as it diversifies beyond its traditional oilfield services core. Data center cooling is critical for managing the heat generated by AI workloads. This acquisition positions the company to capture growth in the AI infrastructure market.

    What is confirmed

    • SLB is acquiring data center cooling firm Kelvion.
    • SLB was formerly known as Schlumberger.
    • SLB is based in Houston.
    • SLB stock rose following the deal announcement.

    Still unconfirmed

    • The acquisition price is $4.1 billion.
    • The acquisition price is $3.4 billion.
    • Apollo and Triton agreed to sell Kelvion to SLB.
    • Data centers are Kelvion's largest and fastest-growing segment.

    What to watch next

    • Integration plans for Kelvion into SLB's infrastructure portfolio.
    Sources used for this update (8)
    1. Reuters — SLB expands data center business with $4.1 billion deal for Kelvion
    2. WSJ — SLB to Buy Data Center Cooling Firm Kelvion for $4.1 Billion
    3. SLB — SLB to Acquire Kelvion, Expanding its Role Across Data Center Infrastructure
    4. Bloomberg.com — SLB to Buy Data Center Cooling Firm Kelvion for $3.4 Billion
    5. Houston Chronicle — Houston’s SLB, formerly Schlumberger, makes $3.4B data center bet with Kelvion
    6. Investor's Business Daily — A Cool AI Data Center Deal Sends Oil Stock Past A New Buy Point
    7. WSJ — SLB Stock Rises on Deal for Data Center Cooling Firm Kelvion
    8. www.pehub.com — Apollo, Triton agree to sell Kelvion to SLB for $4.1bn
    confidence 70%
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