#Equinix #atNorth #Iceland #Reykjavik #CPP Investments

CPP Investments and Equinix's Strategic Acquisition of atNorth

In a significant move aimed at enhancing their presence in the Nordic market, CPP Investments and Equinix have jointly agreed to acquire atNorth, a leading provider in high-density colocation and tailored data center services. This partnership marks a robust step towards meeting the heightened demand for data infrastructure driven by advancements in AI and digital technology.

The acquisition deal was announced on February 27, 2026, highlighting the financial backing of a $4.2 billion financing package that underscores the commitment of CPP Investments and Equinix to expand their capabilities in the sector. Under this agreement, CPP Investments will hold approximately 60% of atNorth, while Equinix will own around 40%. This structure aims to facilitate atNorth's continued growth trajectory while allowing it to maintain its brand identity and operational independence within the densely competitive Nordics landscape.

Eyjólfur Magnús Kristinsson, CEO of atNorth, expressed pride in this new chapter, recognizing the validation this acquisition offers for atNorth’s journey and position as a leader in data center services. He emphasized how this investment will equip atNorth with the necessary capital and relationships to scale operations rapidly, thus ensuring they meet the soaring demands of enterprises focusing on AI and high-performance applications.

The Nordic Advantage

The Nordic region has been increasingly acknowledged as a pivotal hub for next-generation digital infrastructure. Its economy is underpinned by a strong emphasis on innovation, extensive research capabilities, and technical expertise. Known for its leadership in sustainable development, the region provides numerous renewable energy sources, making it particularly attractive for businesses seeking energy-efficient solutions.

AtNorth currently operates eight data centers across key locations in Denmark, Finland, Iceland, Norway, and Sweden, with additional facilities under development. Their focus on sustainability is evident, as many atNorth sites utilize advanced liquid cooling technology to handle high-density workloads. This aligns with the global push towards environmentally responsible business practices, as atNorth integrates renewable energy sourcing, heat reuse initiatives, and a commitment to circular economy principles in its operations.

Strategic Partnership Benefits

Maximilian Biagosch, Senior Managing Director and Global Head of Real Assets at CPP Investments, commented on the partnership with Equinix, citing a longstanding collaborative history that has been highly fruitful. The alliance not only exemplifies CPP's ongoing commitment to the data center market but also highlights the increasing demand fueled by cloud computing and AI technologies.

Bruce Owen, President of Equinix EMEA, discussed how atNorth's scalable facilities complement Equinix's expansive connectivity services. This acquisition enhances their collective ability to provide clients with the infrastructure needed to capitalize on the Nordics' growing digital landscape. For businesses aiming to scale effectively, Equinix is positioned to offer a resilient and future-ready infrastructure while maintaining the necessary jurisdictional data sovereignty required by regional enterprises.

Conclusion

The acquisition of atNorth by CPP Investments and Equinix is more than just a business deal; it is a strategic initiative meant to solidify the Nordics' competitive edge in the global data center market. This partnership is expected to tap into the immense potential of the region, where strong economic foundations and a focus on innovation create a conducive environment for digital transformation. The synergy between these two powerhouses promises not only growth for atNorth but also better service offerings for their clients, paving the way for a more connected and efficient digital future.

As this acquisition unfolds, stakeholders across various sectors will be keenly watching how atNorth navigates its expansion and the enhanced role it will play within the Nordic and European data center ecosystems.