Johnson Controls Inks Up To $870M Deal For Data Center Co.
Law360 (April 9, 2021, 3:01 PM EDT) -- Irish building security, fire safety and heating, ventilating and air conditioning company Johnson Controls plans to acquire Canadian hyperscale data center company Silent-Aire in a Cleary Gottlieb-advised deal worth up to $870 million, the companies announced Friday.
Hyperscale data centers are physical facilities that store thousands of servers for cloud computing and large-scale data processing. Silent-Aire designs these centers and installs cooling systems, according to its website.
The deal is worth $630 million but could be worth as much as $870 million thanks to contingency payments tied to Silent-Aire's performance after the tie-up closes.
In acquiring the company, Johnson Controls said Friday it hopes...
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