Wedoany.com Report on Feb 28th, Data center service provider Equinix and Canada Pension Plan Investment Board (CPP Investments) recently announced that they will acquire Nordic data center operator atNorth from Partners Group for $4 billion. This acquisition aims to expand Equinix's high-density colocation and custom capacity in Denmark, Finland, Iceland, Norway, and Sweden to meet the demands of local enterprises, hyperscale customers, and AI-driven market needs.

According to the agreement, CPP Investments will invest approximately $1.6 billion for a controlling stake of about 60%, while Equinix will hold a 40% equity interest. The parties have preliminarily arranged a $4.2 billion (€3.6 billion) financing package underwritten by European and Canadian lenders to support the acquisition and subsequent expansion. Equinix stated that, subject to regulatory approvals and customary closing conditions, the transaction is expected to be immediately accretive to adjusted funds from operations (AFFO) per share upon completion.

atNorth currently operates eight data centers, with several additional sites under development, and possesses 1 gigawatt (1000 megawatts) of secured power supply. The company has approximately 800 megawatts of installed and active development pipeline expected to come online within the next five years. Several facilities are equipped with liquid cooling infrastructure capable of supporting high-density AI and high-performance computing workloads. atNorth integrates renewable energy procurement, heat recovery initiatives, and modular design into its portfolio and will continue to operate under its independent brand.

Eyjólfur Magnús Kristinsson, CEO of atNorth, said, "This acquisition strongly validates atNorth's journey and its market position as a leading Nordic data center platform. It further highlights the strategic importance of the region as an emerging AI powerhouse in Europe."

This transaction strengthens Equinix's position in European AI infrastructure development, particularly in the Nordic region, which attracts hyperscale and high-density deployments due to renewable energy availability, cool climate, and supportive regulatory frameworks. With 1 gigawatt of secured power and an 800-megawatt near-term pipeline, the capacity offered by atNorth aligns with the accelerating computational demands of AI training and inference workloads.

For CPP Investments, this acquisition expands its existing partnership with Equinix. As hyperscale cloud providers and AI developers seek sovereign, energy-efficient locations, institutional capital continues to target European data center platforms. The Nordics have become a strategic region, competing with established hubs like Frankfurt, London, and Amsterdam in terms of sustainability, power availability, and long-term expansion potential.