CPP Investments and Equinix Forge $4 Billion Partnership to Acquire Nordic Data Center Firm atNorth

Deep News02-27 20:00

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.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment