Jürgen Plasser via flickr
In a statement, Alphabet mentioned that it is already an existing shareholder in Intersect. Google, which is owned by Alphabet, along with other investors, took part in Intersect's $800 million funding round last year.
Intersect develops advanced infrastructure for data centers and other energy-heavy industries. The company's approach includes placing energy-consuming facilities near natural gas and renewable energy sources. The value of Intersect's current and ongoing projects is estimated at $15 billion.
According to the press release, Intersect will continue to operate independently.
The company will keep its name and leadership, with Sheldon Kimber remaining in charge. It will work with the Google team on infrastructure initiatives, including the building of their first shared data center, along with associated power infrastructure, in Texas.
The press release also states that Intersect's current operations in Texas and several assets in California are not included in the transaction.
source: bloomberg.com
Intersect develops advanced infrastructure for data centers and other energy-heavy industries. The company's approach includes placing energy-consuming facilities near natural gas and renewable energy sources. The value of Intersect's current and ongoing projects is estimated at $15 billion.
According to the press release, Intersect will continue to operate independently.
The company will keep its name and leadership, with Sheldon Kimber remaining in charge. It will work with the Google team on infrastructure initiatives, including the building of their first shared data center, along with associated power infrastructure, in Texas.
The press release also states that Intersect's current operations in Texas and several assets in California are not included in the transaction.
source: bloomberg.com