Pioneer Acquisition to Merge With Green AI Cloud in $525 Million Deal
MT Newswires Live
2 hours ago
Pioneer Acquisition I (PACH) said Friday that it has agreed to merge with Green AI Cloud, a Stockholm-based AI infrastructure company.
The deal implies a pro forma enterprise value of approximately $525 million and values Green AI Cloud at $300 million before the transaction, it said, assuming no redemptions by existing Pioneer public shareholders.
Proceeds are expected to fund data center development and potential acquisitions, it added.
The company said the deal is expected to close in Q2 2027, subject to shareholder approval and other customary conditions.
Green AI Cloud's existing management team is expected to lead the combined company after closing, Pioneer said.
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