Vertiv is expanding with another acquisition. ThermoKey, a specialist in heat exchange and heat rejection technologies, will join the company assuming the deal gets finalized this quarter. Customers should get an expanded offering when it comes to thermal management.
The deal, announced last week, is part of Vertiv’s initiative to build out its end-to-end thermal management. For AI buildouts, an integrated solution is needed from chips to cooling to physical structures. ThermoKey will bring expertise in multiple areas. Its offering includes dry coolers, microchannel-based heat exchangers, air-cooled condensers, and liquid cooling systems. The company also supports compatibility with sustainable and natural refrigerants.
Filling a gap in the thermal chain
Heat rejection is a part of the data center cooling chain that has grown in importance as rack densities climb. ThermoKey’s dry coolers and microchannel technologies slot into Vertiv’s broader thermal architecture, which already includes solutions such as the CoolLoop Trim Cooler for regulating water temperatures in liquid-cooled AI environments. Earlier, Vertiv had expanded its modular cooling portfolio with the MegaMod HDX, a prefabricated system combining direct-to-chip and air cooling for rack densities above 100 kW.
“Heat rejection is becoming increasingly critical for data centers and AI factories as the industry seeks new ways to unlock capacity, improve energy efficiency, and scale with confidence,” said Giordano Albertazzi, CEO at Vertiv.
A recurring strategy
This is not the first time Vertiv has expanded its cooling flexibility with an acquisition. In December 2023, it bought CoolTera to strengthen its liquid cooling offerings. The ThermoKey deal follows a similar logic: buying specialist engineering capabilities that complement an existing portfolio rather than building from scratch.
For Europe specifically, the acquisition carries extra weight. ThermoKey’s manufacturing base in Italy and its production capacity are expected to give Vertiv more regional flexibility in responding to demand for advanced heat-exchange solutions. Vertiv had already brought immersion cooling to the EMEA market last year through its CoolCenter Immersion system. ThermoKey’s dry cooler and heat-exchange technologies would add a further layer to that regional offer.