CBRE has announced a definitive agreement to acquire Onnec Group Limited, a provider of data center infrastructure services for technology companies in Europe and Asia Pacific. The acquisition will enhance CBRE’s ability to support its clients’ data center needs on a global basis.
Onnec will operate as part of CBRE’s Critical Infrastructure Services line of business. CBRE expects this business line to generate nearly $4.5 billion of total revenue in 2027, including contributions from Onnec.
The rest of CBRE’s services businesses, most notably Project Management and Advisory Services, are expected to generate almost $2.5 billion of infrastructure services revenue in 2027, resulting in total estimated 2027 infrastructure services revenue of nearly $7.0 billion. This does not include revenue from periodic data center land sales in the development business.
Vikram Kohli, CBRE’s Chief Operating Officer, said, “CBRE is pursuing an explicit strategy to build a global infrastructure services business to complement our real estate services business. We’ve long believed Onnec is an excellent fit in this strategy. The acquisition is also consistent with our ongoing effort to build resilient businesses that benefit from secular tailwinds.”
Barry Horgan, Chairman of Onnec, said, “From day one, our focus has been on delivering exceptional connectivity solutions for our customers. As part of CBRE, we gain the platform and expertise to broaden our capabilities, creating even greater value for our clients, and provide new opportunities for our employees, while staying true to the customer-focused approach that has driven our success.”
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*Offer ends on Friday, 7th February.
