Equinix Approaches $4 Billion Acquisition of Data Center Company atNorth with Canadian Pension Plan Investment Board

According to sources, data center giant Equinix and the Canada Pension Plan Investment Board (CPPIB) are close to reaching an agreement to acquire atNorth Holding, a pan-Nordic data center operator currently owned by Partners Group Holding.

Sources say the consortium is finalizing a deal valued at approximately $4 billion (including debt) for atNorth. The announcement could come as early as this week.

While negotiations are in advanced stages, sources caution that the deal may still face delays. Due to the confidential nature of the discussions, these individuals requested anonymity. Spokespersons for CPPIB, Equinix, and Partners Group declined to comment.

According to its website, atNorth, headquartered in Iceland, operates data centers in Iceland, Denmark, Sweden, and Finland. Partners Group acquired the company in 2022 for an undisclosed amount.

Bloomberg previously reported that Digital Realty Trust is also among atNorth’s bidders.

Q&A

Q1: What is atNorth? What are its main operations?

A: atNorth is a pan-Nordic data center operator based in Iceland, operating data centers in Iceland, Denmark, Sweden, and Finland. It is currently owned by private equity firm Partners Group.

Q2: What is the value of this acquisition deal?

A: Sources say the consortium of Equinix and CPPIB values atNorth at around $4 billion (including debt), making it a significant transaction in the data center industry.

Q3: Are there other companies bidding for atNorth besides the Equinix consortium?

A: Bloomberg previously reported that, besides Equinix and CPPIB, Digital Realty Trust is also among atNorth’s bidders.