CBRE Group is acquiring Onnec Group, a London-based provider of data center infrastructure services to major tech companies in Europe and Asia-Pacific. The initial price is 460 million pounds ($613 million), paid entirely in cash, plus a multi-year earnout of up to 300 million pounds ($400 million) tied to unspecified growth milestones. CBRE says the deal will be immediately accretive to its core earnings per share, with Onnec expected to generate 370 million pounds ($493 million) in revenue next year and core EBITDA of over 50 million pounds ($67 million). CBRE shares closed nearly 3% higher as investors welcomed the push into the fast-growing data center market, which is being driven by AI infrastructure demand.
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