WSJ Tech News Briefing · Monday, August 31, 2026
Oil drilling company SLB has agreed to purchase thermal management firm Kelvion for $4.1 billion. This acquisition aims to strengthen SLB's expanding datacenter operations by integrating Kelvion's essential heat transfer technology. The deal is anticipated to be accretive to earnings and free cash flow within the first year of its completion, expected in the first half of 2027.
“And oil drilling and production company SLB has agreed to acquire thermal management company Kelvion from private equity funds for $4.1 billion to strengthen its growing datacenter business.”
“Kelvion provides the heat transfer technology that datacenters need to operate.”
“It is expected to generate up to $2.4 billion in revenue this year.”
“The company said it expects the deal to be accretive to earnings per share and free cash flow in the first 12 months following close, which is currently slated for the first half of 2027.”