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Johnson Controls To Acquire Silent Aire In $870 Mln Deal In Cash

Johnson Controls (JCI) Friday announced an agreement to acquire Silent-Aire, a global leader in hyperscale data center cooling and modular critical infrastructure solutions for up to $870 million in cash. The deal includes an upfront payment of approximately $630 million and additional post-closing earnout milestones.

The transaction is expected to be immediately accretive and add $0.07 to $0.09 to Johnson Controls adjusted EPS from continuing operations in fiscal 2022.

The deal will help expand Johnson Controls' global capabilities in key growth regions and enhance data center solutions and service offerings.

Silent-Aire specializes in the design, engineering and manufacturing of mission critical custom air handlers and modular data centers for hyperscale cloud and colocation providers. Silent-Aire's revenue for fiscal year 2021 is expected to be approximate $650 million.

Silent-Aire is headquartered in Edmonton, Alberta and has approximately 3,000 employees globally.

The transaction is expected to close in the third quarter of 2021.

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