Three investors have finalised the $4 billion acquisition of atNorth, the Nordic high-density colocation provider, handing CPP Investments a majority stake and cementing Equinix's position in a region increasingly seen as a natural home for AI and high-performance computing infrastructure.
atNorth confirmed on 2 September 2026 that Canada Pension Plan Investment Board (CPP Investments) and Equinix (Nasdaq: EQIX) have completed their previously announced acquisition of the company. Partners Group, which was originally intended to exit, elected to re-invest and will hold a 10 percent stake.
The final ownership structure gives CPP Investments approximately 51 percent of atNorth, committing US$1.3 billion. Equinix holds around 34 percent at US$895 million, Partners Group approximately 10 percent at $260 million, with the remainder held by atNorth's internal stakeholders, who rolled over a substantial portion of their equity. The transaction is backed by a financing package of US$4.1 billion (€3.6 billion), underwritten by European and Canadian lenders.
atNorth currently operates eight data centres across all five Nordic countries, with development projects underway in Sweden, Finland, Norway and Denmark alongside expansions to existing sites. The platform serves enterprise and hyperscale customers running AI, cloud and high-performance computing workloads, with a focus on advanced cooling technologies, renewable energy integration and heat reuse.
atNorth will continue operating under its existing brand. Equinix brings global customer relationships and digital infrastructure expertise to support the company's expansion; CPP Investments brings experience in large-scale data centre investing across other regions.
The Nordics have attracted sustained infrastructure capital over the past three years, driven by access to renewable energy, a cooler climate that reduces cooling costs and a stable regulatory environment. The region is increasingly positioned as a European alternative to hyperscale build-outs in the UK and Germany.
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