Modine Purchases Intellectual Property And Other Specific Assets Of TMG Core; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Modine Manufacturing Company has acquired the intellectual property and certain assets of TMG Core, adding single- and two-phase immersion cooling technologies to its portfolio. This acquisition enhances Modine's capabilities as a cooling solutions provider amid increasing data center heat loads. The financial terms of the deal were not disclosed.
January 02, 2024 | 9:19 pm
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Modine Manufacturing Company's acquisition of TMG Core's intellectual property and assets strengthens its product offerings in the cooling technology sector, particularly for data centers.
The acquisition of TMG Core's intellectual property and assets is likely to have a positive short-term impact on Modine's stock (MOD) as it expands the company's product line in the cooling technology market, which is becoming increasingly important with the rise of data center heat loads. The lack of disclosed financial terms makes it difficult to assess the full financial impact, but strategically, the acquisition is seen as a positive development for Modine's growth in the cooling solutions sector.
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