Prysmian agrees to acquire Atkore, citing electrification and AI-driven infrastructure

On 3 August 2026 Prysmian said it signed a definitive agreement to acquire Atkore, a US maker of electrical conduit and cable management products, for cash at an implied enterprise value of about $3.8 billion. Prysmian said the combination would create a solutions player to lead the electrification and AI-driven infrastructure markets in North America, and would simplify electrification and data center roll-out for customers. It expects about $150 million of annual run-rate EBITDA synergies within three years of closing. Its chief executive said electrification, AI-driven data centers and digitalization all require major spending on infrastructure. We file this because Prysmian names AI-driven infrastructure as a reason for the deal in its own words. How we read it: suppliers are buying scale to serve AI-era building. What would change this: the deal failing to close. Why it matters to you: AI demand is reshaping industrial suppliers.