Infrastructure engineering and construction company MasTec announced Tuesday that it plans to purchase electrical contractor Superior Group in a deal worth $1.65 billion, combining cash and stock. The move is aimed at broadening MasTec’s footprint in the data center infrastructure market.
Currently, MasTec focuses mainly on serving data centers’ power generation and energy transmission requirements. By bringing Superior Group into the fold, the company said it will also be able to provide the electrical systems that data centers rely on.
The acquisition comes as businesses across multiple industries are aggressively working to expand their data center capabilities, driven by surging global demand for artificial intelligence services.
MasTec said it anticipates the transaction will be completed sometime between mid- and late-July.
