CBRE agrees to acquire Onnec for up to about $1 billion to expand data center services
CBRE plans to buy Onnec, a data center infrastructure provider, for £460M upfront plus up to £300M in earnouts. Closing is expected around the end of 2026.
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what happened
CBRE Group has agreed to acquire Onnec Group Ltd., a supplier of infrastructure services for data centers in Europe and Asia Pacific, according to Seeking Alpha, which cited the company's announcement on Tuesday. The upfront payment is £460M (about $610M) in cash, and a multi-year earnout could add up to £300M (about $400M).
CBRE expects Onnec to bring in roughly £370M of revenue in 2027 and more than £50M of core EBITDA, and the deal should lift core earnings per share right away. Closing is anticipated around late 2026. Onnec's work covers building, rolling out and servicing network, fiber and data center systems, with about 800 staff serving hyperscale clients in the UK, continental Europe and Asia Pacific. CBRE's chief operating officer, Vikram Kohli, said: "CBRE is pursuing an explicit strategy to build a global infrastructure services business to complement our real estate services business." He added that the company has long viewed Onnec as an excellent fit.
why it matters
CBRE shares rose 2.8% in late trading on Tuesday. For investors, the deal signals a push beyond property services into infrastructure work for large cloud operators.
market impact
CBRE: expansion into data center infrastructure services; shares rose 2.8% after the announcement
tags
instruments
sources
- CBRE to buy Onnec for up to ~$1B to add to data center infrastructure services — Seeking Alpha, 20 October 2026 at 19:39 UTC
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