Ecolab to acquire AI data center cooling tech firm for $5 billion

Water solutions company Ecolab said on Friday it has ‌agreed ⁠to ⁠acquire CoolIT Systems, a liquid cooling technology provider for AI data centers, from KKR for $4.75 billion in cash.

The global ⁠appetite for ‌data ​centers ​has sparked a ⁠wave of dealmaking across the industry ​as companies race ​to build capacity to meet the surge in power and cooling needs. Ecolab ‌expects the deal to close in ​the third ​quarter ⁠of 2026, and be accretive to its adjusted diluted earnings ​per share in 2028.