atNorth, a Nordic high-density colocation and bespoke data centre provider, is the subject of a joint acquisition by Canada Pension Plan Investment Board (CPP Investments) and Equinix. The transaction is based on a US$4 billion enterprise value and is subject to customary closing conditions, including regulatory approvals.
Under the agreement, CPP Investments will hold approximately 60% of atNorth, while Equinix will hold around 40%. A provisional US$4.2 billion financing package, provided by European and Canadian financial institutions, underpins the deal.
The acquisition highlights atNorth’s role in the Nordic region, which is increasingly recognised for its digital infrastructure and emerging AI capabilities. The investment aims to support the expansion of data centre capacity in the region, which is noted for its focus on sustainable practices, renewable energy, and technical expertise.
atNorth operates eight data centres across Denmark, Finland, Iceland, Norway, and Sweden, with additional sites under development. The company plans to secure 1 GW of power capacity to meet growing demand for AI and high-performance computing. Several facilities are equipped with liquid cooling technology to accommodate high-density computing workloads.
Sustainability is integrated into atNorth’s operations, with renewable energy sourcing, efficient modular design, and heat reuse initiatives forming part of the company’s approach. The company will continue to operate under the atNorth brand while benefiting from partnerships with global enterprises.
For CPP Investments and Equinix, the acquisition represents an opportunity to expand in the data centre sector. The Nordics’ stable economy and access to renewable energy make it a suitable environment for data infrastructure growth.
The region’s focus on sustainable projects and naturally cool climate further supports its development as a hub for digital infrastructure and innovation in the coming years.
