Digital infrastructure firm Equinix Inc. (EQIX) and Canada Pension Plan Investment Board (CPP Investments) have entered into a definitive agreement to jointly acquire Nordic data center operator atNorth in a transaction valued at $4 billion, including debt.
The current owner of atNorth, Partners Group, which acquired the company in 2022, has committed to reinvesting in the business following the sale, repurchasing up to 10% of the equity.
According to a separate announcement released by the companies on Friday, the ownership structure will be as follows: CPP Investments will commit $1.6 billion for a 60 percent stake, while Equinix will hold a 40 percent interest. This collaboration follows a previous partnership between the two entities, such as a joint venture formed with Global Industry Company (GIC) in 2024 to expand Equinix's data center footprint.
atNorth operates multiple data center facilities across Denmark, Finland, Iceland, Norway, and Sweden.
CPP Investments stated that this investment further advances its global data center strategy and strengthens its presence in Europe. Equinix indicated that the acquisition will bolster its existing data center operations in the Nordic region.
At the time of reporting, Equinix, CPP Investments, and atNorth had not immediately responded to requests for further comment.
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