KKR, a leading global investment firm, and CoolIT Systems, a leading provider of scalable liquid cooling solutions for the world's most demanding computing environments, today announced the signing of a definitive agreement under which KKR will acquire CoolIT. The deal, valued at $270 million, will give CoolIT Systems added capital and other resources to scale up to meet growing demand for cooling systems from data-center operators, including giant cloud-computing providers such as Amazon.com's Amazon Web Services and Microsoft's Azure cloud unit. CoolIT also works with individual companies running AI applications and other business software in their own data centers.
Founded in 2001, CoolIT designs, engineers and manufactures advanced liquid cooling solutions for the data center and desktop markets. CoolIT's patented Split-Flow Direct Liquid Cooling technology is designed to improve equipment reliability and lifespan, decrease operating cost, lower energy demand and carbon emissions, reduce water consumption and allow for higher server density than legacy air-cooling methods.
"Our business has evolved tremendously over the past few years and today we are proud to be one of the most trusted providers of liquid cooling solutions to the global data center market," said Steve Walton, Chief Executive Officer of CoolIT. "KKR shares our perspective on the significant opportunity ahead for liquid cooling. Having access to KKR's expertise, capital and resources will put us in an even better position to keep scaling, innovating and delivering for our customers."