CPP Investments and Equinix have jointly acquired atNorth, a leading Nordic data centre platform, in a deal valued at approximately US$4 billion. The acquisition forms a 60/40 joint venture, with CPP Investments holding the majority stake.
The transaction secures approximately 1 gigawatt of power capacity across atNorth's Nordic data centre portfolio, positioning both firms to capitalise on the rapidly growing demand for high-density computing infrastructure across the Nordics.
A Strategic Nordic Powerhouse
atNorth operates a network of data centres across Iceland, Finland, Sweden, and Denmark, with a strong focus on sustainability. The company leverages the Nordics' abundant renewable energy sources and naturally cool climate to deliver low-carbon, energy-efficient computing at scale.
This partnership with CPP Investments and Equinix will accelerate our growth strategy and help us meet the surging demand for high-performance computing infrastructure in the Nordics.
Why It Matters
The deal reflects the global scramble for data centre capacity as AI workloads and cloud computing continue to drive demand. Nordic facilities are particularly prized for their access to renewable energy and favourable conditions for efficient cooling.
Our investment in atNorth reflects our conviction in the long-term growth of digital infrastructure, particularly in markets with access to renewable energy and strong regulatory frameworks.
The acquisition was financed with approximately US$4.2 billion in committed financing. atNorth will continue to operate under its existing brand and management team.
