08:17 AM EST, 11/14/2025 (MT Newswires) -- BlackRock's ( BLK ) Global Infrastructure Partners subsidiary and ACS Group have agreed to form a 50-50 joint venture to develop and operate data centers worldwide, ACS said Friday.

On closing, the platform will include ACS' 1.7 GW portfolio of in-development data center assets across Europe, US, and Australia, ACS said.

The transaction, subject to regulatory approvals, values the assets at about 2.0 billion euros ($2.33 billion), consisting of 1.0 billion euros in cash and up to 1.0 billion euros in initial earn-outs, plus a further earn-out of up to 200 million euros tied to pipeline milestones, according to a statement.

ACS also said it is evaluating more than 11 GW of potential projects across North America, Europe, and Asia Pacific to expand the platform.

The venture targets to provide hyperscalers and artificial intelligence firms with end-to-end delivery, integrated energy services, and modular designs to speed up deployment and manage power needs, ACS said.