Eaton to Buy Boyd Thermal in $9.5 Billion Deal

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Eaton Expands Its Power Empire

Founded in 1911, Eaton has evolved into a global leader in power management systems across data centers, aerospace, buildings, and vehicles. The company reported $25 billion in revenues last year, serving customers in more than 160 countries.

Eaton’s CEO Paulo Ruiz said the merger brings together unmatched expertise:

“Our combined capabilities in both power and liquid cooling—from the chip to the grid—will empower customers to manage growing power demands more effectively,” Ruiz said.

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The move positions Eaton to provide an end-to-end energy management ecosystem, catering to the world’s rapidly expanding digital infrastructure needs as AI applications drive exponential increases in energy consumption.

Boyd Thermal CEO: ‘A Perfect Synergy of Innovation and Scale’

Doug Britt, CEO of Boyd Thermal, echoed the excitement, calling the deal a “synergy of innovation and scale.”

“Our expertise in liquid cooling, paired with Eaton’s premier intelligent power management, will drive new levels of efficiency and innovation to meet the high-power demands of AI data centers,” Britt said.

Once finalized, Boyd Thermal will integrate into Eaton’s operations while continuing to focus on its core cooling technologies.