July 7 (Reuters) – Infrastructure engineering and construction firm MasTec said on Tuesday it would acquire electrical contractor Superior Group in a $1.65 billion cash-and-stock deal, as it seeks to expand its data center infrastructure offerings.
MasTec, which primarily caters to data centers’ power generation and energy transmission needs, will now be able to supply the electrical systems for data centers, through the Superior Group deal, it said.
Companies across sectors have been racing to boost their offerings amid a global buildout of data centers to fuel growing demand for AI services.
MasTec said it expects to close the deal by mid- to late-July.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Maju Samuel)
Comments