CoolIT sold to Ecolab for $4.75-billion in one of biggest ever Canadian tech takeovers

CoolIT Systems Inc., a Calgary-based data-centre cooling technology supplier, has been sold to a U.S. public company in what is described as one of the largest exits in Canada’s technology sector. The deal signals robust cross-border M&A interest in Canadian tech and data-centre infrastructure and should lift valuation benchmarks for similar private companies. No transaction value was disclosed, limiting immediate price-action for listed names, but expect positive sentiment and potential acceleration in tech exits and acquisitions.

Analysis

CoolIT Systems Inc., a Calgary-based data-centre cooling technology supplier, has been sold to a U.S. public company in what is described as one of the largest exits in Canada’s technology sector. The deal signals robust cross-border M&A interest in Canadian tech and data-centre infrastructure and should lift valuation benchmarks for similar private companies. No transaction value was disclosed, limiting immediate price-action for listed names, but expect positive sentiment and potential acceleration in tech exits and acquisitions.