The atNorth acquisition marks a major step in strengthening digital infrastructure across the Nordics. Canada Pension Plan Investment Board (CPP Investments) and Equinix have entered into a joint agreement to acquire atNorth from Partners Group in a US$4 billion enterprise value transaction.
The atNorth acquisition remains subject to customary closing conditions, including regulatory approvals. Under the agreement, CPP Investments will hold an approximate 60% controlling interest, while Equinix will own around 40%. In addition, the partners have provisionally secured a US$4.2 billion financing package underwritten by European and Canadian lenders.
Importantly, atNorth will continue operating under its own brand. However, the new ownership structure will provide enhanced access to capital, global enterprise customers, and hyperscale relationships. As a result, the company can scale more rapidly to meet rising demand for data center infrastructure.
Expanding Capacity Across the Nordics
atNorth currently operates eight data centers across Denmark, Finland, Iceland, Norway, and Sweden. Moreover, it has several additional sites under development. The company has secured 1 GW of power capacity and plans further expansion to support long-term growth.
Many facilities support AI and high-performance computing workloads. Notably, several sites feature liquid cooling technology to handle high-density deployments. Furthermore, atNorth integrates renewable energy sourcing, heat reuse initiatives, and efficient modular design. Therefore, the platform aligns with growing demand for sustainable digital infrastructure.
Strategic Importance of the Nordic Region
The Nordics continue to emerge as a key hub for AI and cloud growth. The region offers resilient economies, strong technical expertise, and abundant renewable energy resources. Additionally, naturally cool climates improve energy efficiency for data center operations.
For CPP Investments, the atNorth acquisition strengthens its long-term commitment to digital infrastructure assets. Meanwhile, Equinix expands its footprint in a high-growth region that complements its global connectivity platform. Consequently, customers gain access to scalable, sustainable, and future-ready infrastructure.
Overall, the atNorth acquisition positions both investors to capture accelerating enterprise, cloud, and AI demand across Europe’s expanding digital economy.
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