Feb 27 (Reuters) – Canada Pension Plan Investment Board and Equinix have agreed to acquire Nordic data center operator atNorth from private equity firm Partners Group in a deal valued at about $4 billion, the companies said in a joint statement on Friday. CPP will invest roughly $1.6 billion for a 60% controlling stake, while […]
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CPP, Equinix to buy Nordic data center operator atNorth in $4 billion deal
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Feb 27 (Reuters) – Canada Pension Plan Investment Board and Equinix have agreed to acquire Nordic data center operator atNorth from private equity firm Partners Group in a deal valued at about $4 billion, the companies said in a joint statement on Friday.
CPP will invest roughly $1.6 billion for a 60% controlling stake, while Equinix will hold about 40%. The transaction is expected to be immediately accretive to Equinix’s adjusted funds from operations upon completion.
atNorth operates eight data centres across Denmark, Finland, Iceland, Norway and Sweden with several additional sites under development.
The operator has secured 1 gigawatt of power for future expansion and plans a pipeline of roughly 800 megawatts over the next five years in a bid to meet Europe’s increasing AI demand.
Partners Group acquired the business in 2022 for an undisclosed amount and has since supported its regional expansion.
California-based data-centre operator Equinix has been expanding aggressively to capture rising demand for digital infrastructure, while CPP has been increasing its exposure to data-center assets.
(Reporting by Rajveer Singh Pardesi in Bengaluru; Editing by Mrigank Dhaniwala)