SLB, a global technology company, announced its agreement to acquire thermal management and heat-exchange technology provider Kelvion from Apollo Global Management and Triton for approximately $3.4 billion in cash, along with the assumption of about $700 million in debt. The deal is expected to close in the first half of 2027, subject to regulatory approvals. SLB anticipates the acquisition will strengthen its position in the rapidly growing AI and data center cooling market, projecting the combined data center businesses to generate $4.5 billion to $5 billion in revenue and $700 million to $800 million in adjusted EBITDA by 2028. The company also expects approximately $120 million in annual EBITDA synergies within three years of closing.