CBRE Group, Inc. has entered into a definitive agreement to acquire Onnec Group Limited, a leading provider of data center infrastructure services in Europe and Asia Pacific. This acquisition is intended to significantly expand CBRE's global capabilities in supporting clients' data center needs and is expected to be immediately accretive to core earnings per share.
Key Details
- Acquisition Target: Onnec Group Limited, a specialist in data center infrastructure services.
- Financial Terms: Initial purchase price of £460 million (approx. $610 million) in cash, with a potential multi-year earnout of up to £300 million (approx. $400 million).
- Strategic Impact: Onnec will operate within CBRE's Critical Infrastructure Services business line, which is projected to generate nearly $4.5 billion in revenue in 2027 post-acquisition.
- Timeline: The transaction is subject to regulatory approvals and is expected to close around the end of 2026.