CBRE Strikes $1B Deal For UK Cisco Partner Onnec

London-based Onnec will become part of CBRE’s Critical Infrastructure Services business as the US real estate giant expands its data center capabilities across Europe and APAC

CBRE has agreed to acquire UK-headquartered IT infrastructure partner Onnec in a deal that could ultimately be worth $1B.

The Dallas, Texas-headquartered real estate and investment giant will pay $616M in cash for Onnec, with a further earnout of up to $402M dependent on the company meeting agreed growth thresholds.

Founded in 1986 and based in London, Onnec is a Cisco, Fortinet, HPE and Commscope partner. It specializes in the design, deployment and maintenance of network, fiber and data center infrastructure.

The integrator has about 800 employees serving hyperscale customers across the UK, continental Europe and Asia Pacific, with its wider offering spanning structured cabling, managed services and networking.

Onnec will become part of CBRE's Critical Infrastructure Services business, with the acquisition expanding the US group's data center infrastructure capabilities in Europe and Asia Pacific.

CBRE: “We've Long Believed Onnec Is An Excellent Fit”

"CBRE is pursuing an explicit strategy to build a global infrastructure services business to complement our real estate services business. We've long believed Onnec is an excellent fit in this strategy," said CBRE chief operating officer Vikram Kohli.

Onnec is expected to generate about $496M in revenue and more than $67M in core EBITDA in 2027.

Barry Horgan, chairman of Onnec, said the deal would give the company the platform to broaden its capabilities.

"From day one, our focus has been on delivering exceptional connectivity solutions for our customers.

"As part of CBRE, we gain the platform and expertise to broaden our capabilities, creating even greater value for our clients, and provide new opportunities for our employees, while staying true to the customer-focused approach that has driven our success."

The transaction remains subject to customary regulatory approvals and is expected to complete near the end of the year.

Onnec's Recent Growth In Global Footprint And Revenue

The deal comes after a period of strong growth and expansion for Onnec.

In June, CRN UK reported that the integrator had acquired Danish firm GI NETWORKS in a move to strengthen its data center infrastructure management capabilities and managed services across the Nordics.

The acquisition followed a wider push into the data center market, with Onnec joining the Data Centre Alliance and the Finnish Data Center Association. The firm has also expanded its presence in Asia Pacific.

And an increase in its global footprint has been accompanied by a hike in revenues.

Earlier this year, Onnec's revenue climbed 41.3 percent to $258M for the year ended 31 December 2025, up from $183M the previous year. Adjusted EBITDA increased from $9.6M to $29.3M.

The company said momentum was driven in part by rising demand for data center infrastructure from hyperscale customers investing in AI, IoT and high-speed networks.

This article originally appeared on CRN sister website CRN UK.