On August 31, SLB Ltd rose 3.26% in regular trading, trading at $59.36 per share, with turnover of approximately $86.84 million. The stock gained momentum after the company announced a landmark acquisition to deepen its footprint in data center infrastructure.

SLB Ltd disclosed that it has entered into a definitive agreement to acquire Kelvion, a global leader in thermal management and heat exchange technology, from funds managed by Apollo Global Management for approximately $4.1 billion, comprising $3.4 billion in cash and the assumption of roughly $700 million in debt. Kelvion specializes in advanced cooling solutions, with data centers now its fastest-growing end market, accounting for more than half of total sales. SLB Ltd expects the deal to be accretive to earnings per share and free cash flow per share within the first 12 months post-closing, while generating approximately $120 million in annual EBITDA synergies within three years. The company has also set a target of $4.5 billion to $5.0 billion in data center revenue by 2028. Separately, the broader energy sector traded higher, with WTI crude oil rising 3.3% to $86.18 per barrel.

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