CBRE has agreed to acquire London-based Onnec Group for up to approximately $1 billion, expanding its design, deployment and maintenance services for network, fiber and physical connectivity infrastructure in hyperscale data centers. Announced October 20, the agreement provides £460 million (approximately $610 million) upfront and a contingent multi-year earnout of up to £300 million (approximately $400 million). The acquisition is subject to approvals and is expected to close around year-end 2026.

Onnec employs approximately 800 people and supplies structured cabling, network infrastructure deployment, fiber connectivity and managed services across the UK, continental Europe and Asia Pacific. The business will join CBRE’s Critical Infrastructure Services division. CBRE projects approximately £370 million in Onnec revenue and more than £50 million in core EBITDA for 2027.

CBRE acquired Direct Line Global in 2024, adding U.S. data center installation and maintenance capabilities. Onnec extends its geographic reach and technical services. CBRE projects nearly $4.5 billion in Critical Infrastructure Services revenue, including Onnec, and approximately $7 billion in total infrastructure services revenue in 2027; these are forecasts, not reported results.

Analysis

The deal underscores the importance of physical connectivity in hyperscale AI deployments. Beyond GPUs, optical transceivers and switches, large data centers require fiber distribution, structured cabling, installation and ongoing maintenance. As AI clusters expand, deployment complexity and commissioning schedules increase the importance of specialized infrastructure contractors.

CBRE’s combination of Direct Line Global in the U.S. and proposed Onnec operations in Europe and Asia Pacific extends its ability to support multiple phases of the data center lifecycle. The company is expanding its installation and maintenance role rather than entering optical equipment manufacturing.