Alphabet, the parent company of Google, recently announced its plans to acquire Intersect, a company that provides data center and energy infrastructure solutions, for $4.75 billion in cash, in addition to the assumption of debt.
Google currently owns a minority stake in Intersect from a previously announced funding round.
Intersect has $15 billion of assets in operation or under construction across the United States. Included in the transaction are Intersect’s team, as well as multiple gigawatts of energy and data center projects in development or under construction from its existing partnership with Google. Intersect’s operating assets in Texas and its operating and in-development assets in California will not be part of the acquisition. Those assets continue to operate as an independent company supported by investors TPG Rise Climate, Climate Adaptive Infrastructure and Greenbelt Capital Partners.
Intersect delivers next-generation infrastructure for data
