Equinix, CPP to Acquire atNorth for $4B with 60/40 Ownership Split
Equinix and CPP Investments will acquire Nordic data-center operator atNorth for $4 billion, with CPP investing $1.6 billion for 60% and Equinix holding 40% under a $4.2 billion financing package. The acquisition, immediately accretive, adds eight Nordic centers with 1 GW power capacity and an 800 MW development pipeline.
1. Acquisition Partnership and Deal Value
Equinix and CPP Investments agreed to acquire atNorth in a transaction valued at approximately $4 billion, subject to customary approvals. This partnership combines Equinix’s global footprint with CPP’s investment capacity to target Nordic data center growth.
2. Ownership Stakes and Financing
CPP Investments will invest roughly $1.6 billion for a 60% stake, while Equinix holds the remaining 40%. The acquisition is backed by a provisional $4.2 billion financing package designed to support both the purchase and future expansion.
3. Data Center Assets and Capacity
atNorth operates eight data centers across Denmark, Finland, Iceland, Norway, and Sweden, with about 1 GW of installed power capacity. An additional 800 MW development pipeline is expected online within five years, featuring liquid cooling systems for high-density AI workloads.
4. Strategic Implications for Equinix
The deal is immediately accretive to adjusted funds from operations per share and enhances Equinix’s AI infrastructure offerings. Access to renewable energy, cooler climates, and regional connectivity strengthens Equinix’s position in the expanding Nordic digital market.