Columbus, Ohio – October 12, 2026 -- Vertiv Holdings Co. has agreed to acquire microgrid specialist Utility Innovation Holdings, operating as UtilityInnovation Group (UIG), for about $1.45 billion in cash at closing, plus up to $1.15 billion in additional cash tied to EBITDA targets over 12- and 24-month periods.

Vertiv's wholly-owned subsidiary, Vertiv Corporation, signed the merger agreement. If the full earnout is paid, total consideration could reach $2.6 billion.