CPP Investments and Equinix have entered into a joint agreement to acquire atNorth from Partners Group in a transaction valuing the business at US$4 billion.
The acquisition will expand Equinix’s footprint across the Nordics and strengthen atNorth’s ability to scale amid accelerating enterprise, cloud and AI demand.
CPP Investments will invest approximately US$1.6 billion for a 60% controlling interest, while Equinix will hold a 40% stake. The transaction is subject to customary closing conditions including regulatory approvals and is expected to be immediately accretive to Equinix’s adjusted funds from operations per share upon closing.
atNorth operates eight data centers with additional sites under development across Denmark, Finland, Iceland, Norway and Sweden. The company has secured 1 GW of power capacity with further expansion planned.
Purpose-built for AI and high-performance computing workloads, several facilities are liquid cooling enabled to support high-density deployments. atNorth integrates renewable energy sourcing, heat reuse initiatives and modular design to support efficiency and reduce environmental impact.
The Nordics continue to attract digital infrastructure investment due to resilient economies, strong innovation ecosystems and abundant renewable energy resources supported by naturally cool climates. The acquisition positions atNorth to accelerate growth while preserving its brand, operational independence and regional focus.
