Story perspectives

CPP Investments and Equinix to Acquire AtNorth for $4 Billion

2/27/2026

Summary

Story summary

Canada Pension Plan Investment Board (CPP Investments) and Equinix will acquire atNorth, a Nordic data center operator, for about $4 billion.
CPP Investments will invest about $1.6 billion for a 60% stake, with Equinix holding the remaining 40%.
The financing package totals $4.2 billion to support the acquisition and expansion.
AtNorth operates eight data centers across Denmark, Finland, Iceland, Norway, and Sweden to bolster AI infrastructure in the Nordics.

History

Historical Context

The global data center market, valued at around $200 billion in 2021, reflects a surge in digital infrastructure driven by increasing demand for data services. The $4 billion acquisition of atNorth by CPP Investments and Equinix underscores this trend, particularly in the Nordic region, where countries like Sweden and Finland are enhancing their AI capabilities, thereby strengthening their digital economies and attracting further investments.

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Story summary

Canada Pension Plan Investment Board (CPP Investments) and Equinix will acquire atNorth, a Nordic data center operator, for about $4 billion.
CPP Investments will invest about $1.6 billion for a 60% stake, with Equinix holding the remaining 40%.
The financing package totals $4.2 billion to support the acquisition and expansion.
AtNorth operates eight data centers across Denmark, Finland, Iceland, Norway, and Sweden to bolster AI infrastructure in the Nordics.

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