SLB to acquire Kelvion for $3.4 billion in data center infrastructure expansion
August 31, 2026
(World Oil) – SLB has agreed to acquire thermal management technology provider Kelvion for approximately $3.4 billion in cash, expanding the oilfield services company’s presence in data center infrastructure as artificial intelligence drives increased investment in power and cooling capacity. Under the agreement, SLB will acquire Kelvion from majority owner Apollo-managed funds and minority shareholder Triton. SLB will also assume approximately $700 million of debt.
