Power management giant Eaton (NYSE: ETN) said it will pay $1.4 billion to acquire Fibrebond Corp., a designer and builder of power enclosures for data center, industrial, utility and communications customers. The deal, expected to close in the third quarter of 2025, expands Eaton's reach into the multi-tenant data center market.

(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 will pay $1.4 billion for the acquisition of Louisiana-based Fibrebond, which builds structures that protect people and mission-critical equipment for data center, fiber, industrial, and utility markets. The deal is expected to close in the third quarter of 2025.

A family-owned business headquartered in Minden, La., announced it agreed to an acquisition by a long-time partner. Fibrebond, which has been headquartered and operating in Minden for nearly a half-century,