CBRE, a leading real estate firm, is making a significant move into the data center sector with its acquisition of Onnec Group for approximately $1 billion. This deal reflects the growing link between commercial real estate and the rising demand for AI technologies.
According to company officials, CBRE will pay around $610 million in cash for the London-based Onnec Group, with the potential for an additional $400 million based on future performance targets. Onnec, which employs about 800 people, specializes in the installation and maintenance of cabling and equipment racks in data centers for major technology firms across Europe and the Asia Pacific region.
This acquisition aligns with CBRE’s strategy to expand its services in response to increasing investment in technology and data infrastructure, as businesses continue to invest heavily in artificial intelligence and related technologies. The deal is seen as an opportunity for CBRE to enhance its capabilities in supporting data center operations amid the growing demand for digital services.
As part of the agreement, CBRE aims to leverage Onnec’s expertise and workforce to better serve clients in a rapidly evolving tech landscape. The successful integration of Onnec’s operations will likely be a focus as both companies work toward meeting the targets outlined in the deal.
This acquisition also highlights the broader trend within the commercial real estate sector, where companies are increasingly looking to capitalize on the surge in data center needs driven by the digital economy.
