Eaton to buy Fibrebond, a data center structure maker, for $1.4B. The deal boosts Eaton's data center offerings, closing in Q3.

(Reuters) -Power management company Eaton said on Tuesday it will buy Fibrebond Corporation in a $1.4 billion deal as it looks to expand its reach into the data center market. The global appetite for energy-intensive data centers has increased exponentially as companies race to develop and adopt artificial intelligence,

Eaton said it signed an agreement to acquire modular data-center builder Fibrebond in a $1.4 billion deal. The Dublin power-management company on Tuesday said the acquisition will expand its reach into the multitenant data-center market that Fibrebond serves.