Benzinga | Jun 9, 2021 06:48AM EDT

nVent To Acquire CIS Global For $200M

* Acquisition will strengthen nVent's global offering in data centers and networking solutions

* Expands capabilities in advanced technologies in power management

* Enhances nVent's positioning with the electrification of everything megatrends nVent Electric plc (NYSE:NVT) ("nVent"), a global leader in electrical connection and protection solutions, today announced it has entered into a definitive agreement to acquire CIS Global LLC, a privately held leading provider of mission critical power and server rack-mount slide products for the rapidly growing data center and networking industries. The transaction is expected to be completed by the third quarter for a cash purchase price of approximately $200 million, subject to adjustments.