Global real estate services and investment giant CBRE has agreed a deal worth up to $1 billion to acquire London-based data centre infrastructure specialist Onnec, significantly expanding its capabilities in one of the fastest-growing sectors of the built environment.
The acquisition will see CBRE pay an initial £460 million ($610 million) in cash, with a further performance-related payment of up to £300 million ($400 million) potentially payable over several years.
The transaction represents a major investment in specialist data centre engineering, network infrastructure and technical services, strengthening CBRE’s position in a market being driven by growing demand for cloud computing, artificial intelligence and digital connectivity.
Founded in 1986 and headquartered in London, Onnec specialises in the design, deployment and maintenance of network, fibre and data centre infrastructure, providing critical technical services to major technology operators and hyperscale data centre customers.
The business employs approximately 800 people across the United Kingdom, continental Europe and the Asia-Pacific region, giving CBRE an established international platform from which to expand its specialist infrastructure operations.
Once completed, Onnec will become part of CBRE’s critical infrastructure services business, complementing the group’s existing data centre infrastructure capabilities in the United States.
The acquisition is expected to create opportunities for greater international coordination across the design, installation, commissioning, operation and maintenance of increasingly complex digital infrastructure facilities.
For the construction and engineering sectors, the deal highlights the growing strategic importance of the specialist contractors and technical service providers responsible for delivering the infrastructure within modern data centres.
While investment in data centre development is frequently measured through the construction of large-scale buildings and campuses, the technical infrastructure housed within these facilities is equally critical to their performance.
High-capacity fibre networks, structured cabling, connectivity systems and associated infrastructure form essential components of the operational environment required by hyperscale technology businesses.
As demand for computing capacity increases, developers and operators are placing greater emphasis on the delivery of reliable, scalable and resilient facilities capable of supporting increasingly demanding technology requirements.
Onnec’s specialist expertise will therefore strengthen CBRE’s ability to support customers across the wider lifecycle of data centre assets, from initial infrastructure deployment through to ongoing technical maintenance.
The financial outlook for the acquired business also demonstrates the scale of the opportunity within this rapidly expanding market.
Onnec is expected to generate approximately £370 million ($498 million) in revenue during 2027, alongside core earnings before interest, tax, depreciation and amortisation (EBITDA) exceeding £50 million ($67 million).
Including the anticipated contribution from Onnec, CBRE expects its critical infrastructure services business to generate nearly $4.5 billion in total revenue in 2027.
The projected performance underlines the increasing significance of digital infrastructure services within CBRE’s broader international property and facilities management operations.
The acquisition also reflects a wider transformation taking place across the commercial property sector, where data centres have emerged as a major area of investment alongside more traditional asset classes such as offices, industrial and logistics facilities.
Unlike conventional commercial buildings, data centres require highly specialised engineering systems, resilient power infrastructure, sophisticated cooling arrangements and extensive digital connectivity to maintain continuous operations.
This complexity creates sustained demand for specialist engineering expertise, both during initial construction and throughout the operational life of the facility.
For CBRE, bringing Onnec into its critical infrastructure division will provide additional technical resources and geographical coverage, particularly across European and Asia-Pacific markets where the company already serves major technology customers.
The combination of Onnec’s established regional operations and CBRE’s existing US capabilities is expected to strengthen the group’s ability to support international clients operating across multiple data centre markets.
The transaction remains subject to the necessary regulatory and other approvals, with completion anticipated around the end of 2026.
If finalised, the acquisition will represent another significant step in CBRE’s expansion into specialist infrastructure services, positioning the business to capitalise on the continued growth of global data centre development and the increasingly sophisticated engineering requirements of the digital economy.
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