CBRE Group to Acquire Onnec Group for Up to $1.01 Billion to Expand Global Data Center Services

CBRE Group, Inc. Enters Agreement to Acquire Onnec Group Limited

Transaction Overview

On October 20, 2026, CBRE Group, Inc. announced a definitive agreement to acquire London-based Onnec Group Limited, an independent global provider of data center infrastructure, network, and fiber services across Europe and the Asia-Pacific region.

Key Financial Terms

• Upfront Consideration: £460 million (approximately $610 million) paid in cash.
• Contingent Earnout: Up to £300 million (approximately $400 million) based on Onnec meeting specified multi-year growth thresholds.
• Total Potential Transaction Value: Up to £760 million (~$1.01 billion).
• Target Financial Outlook (2027E): Expected to generate approximately £370 million ($498 million) in revenue and over £50 million ($67 million) in Core EBITDA.
• Earnings Impact: CBRE projects the transaction will be immediately accretive to its core earnings per share (EPS).

Strategic Rationale & Segment Integration

• Critical Infrastructure Expansion: Onnec will integrate into CBRE's Critical Infrastructure Services line of business within its Building Operations & Experience segment.
• Segment Projections: CBRE expects its Critical Infrastructure Services line to generate approximately $4.5 billion in total revenue in 2027 (including Onnec). Together with project management and advisory infrastructure work (~$2.5 billion), total infrastructure services revenue across CBRE is projected to approach $7.0 billion in 2027.
• Geographic Footprint: Onnec employs roughly 800 professionals across the UK, Continental Europe, and APAC, complementing CBRE's established data center infrastructure operations in the United States.

Closing Timeline & Approvals

The transaction is subject to standard regulatory approvals and is anticipated to close around year-end 2026.