Financial and Strategic Details
The acquisition will require regulatory approval and is expected to close in the second quarter of 2026. Eaton said it expects the acquisition to begin contributing to adjusted earnings in the second year after closing.
Eaton’s willingness to pay a premium signals strong confidence in the accelerating digital transformation, where data centers and AI computing hubs are consuming record levels of electricity and thermal management resources.
Elite Legal Teams Behind the Mega-Deal
Eaton’s legal counsel, Paul Weiss, fielded a team led by partners Dotun Obadina and Laura C. Turano.
Representing Boyd and Goldman Sachs, Davis Polk’s team was spearheaded by John D. Amorosi, Michael Gilson, Michael Senders, Adam Kaminsky, Ethan R. Goldman, and Nathaniel L. Asker.
A Billion-Dollar Bet on the Future of Energy and AI
The Eaton to buy Boyd Thermal deal isn’t just another corporate acquisition—it’s a strategic leap into the infrastructure backbone of the digital age. As AI models grow hungrier for energy and precision cooling, the partnership between Eaton’s power systems and Boyd’s thermal technology could become a cornerstone of the next generation of data infrastructure.
In an era where every millisecond of processing speed and every degree of temperature control counts, this $9.5 billion deal may be remembered as the merger that powered the AI revolution.
