REYKJAVÍK, Iceland, Mar 2, 2026 – Canada Pension Plan Investment Board (CPP Investments) and Equinix have agreed to acquire atNorth from Partners Group. The transaction shifts ownership of atNorth, which runs data centers serving enterprise and cloud customers.
CPP Investments will take an approximate 60% controlling stake in atNorth, while Equinix will own about 40%, under a US$4 billion enterprise value deal. AtNorth will continue to operate under its existing brand. The companies have also provisionally secured a US$4.2 billion financing package underwritten by European and Canadian lenders.
“This acquisition is a powerful validation of atNorth’s journey and its market position as the leading Nordics data center platform,” said Eyjólfur Magnús Kristinsson, CEO of atNorth. “It further illustrates the strategic importance of the region as Europe’s rising AI powerhouse. I’m extremely proud to announce the next step in our chapter, welcoming this investment from CPP Investments and Equinix, which will enable access to capital, global enterprise, and hyperscale relationships, and supply chain strength required to scale at pace. Our strategy remains firmly rooted in the Nordics, and we will continue to operate independently under the atNorth brand, preserving our dedication to the communities where we operate and the culture and values that have defined our success to date.”
atNorth operates eight data centers across Denmark, Finland, Iceland, Norway, and Sweden, with several additional sites under development. The company has secured 1 GW of power and plans further capacity expansion. Many of its facilities use liquid cooling to support AI and high-performance computing workloads. atNorth’s portfolio also includes renewable energy sourcing, heat reuse systems, and modular construction.
“This transaction builds on our long-standing and highly productive relationship with Equinix,” said Maximilian Biagosch, senior managing director & global head of real assets, CPP Investments. “It demonstrates our conviction and commitment to the data center sector, where demand continues to accelerate, fueled by continued strong enterprise demand as well as cloud and AI adoption. The Nordics are an attractive market for data center growth and the opportunity to partner with Equinix on this acquisition allows us to deploy capital at scale into a high-quality platform, helping us deliver attractive risk-adjusted returns for CPP contributors and beneficiaries.”
“The scalable sites of atNorth are very complementary to Equinix’s connectivity services and global footprint. Combined with our joint focus on sustainability, this acquisition is expected to enhance our ability to help customers unlock the full potential of the Nordics’ expanding digital landscape,” explained Bruce Owen, president Equinix, EMEA. “For businesses looking to scale with resilience, Equinix offers a future-ready infrastructure for long-term success, maintaining the jurisdictional and data sovereignty of organizations operating in the region. We are delighted to partner with CPP Investments, whose long-term track record of investing in the sector is highly complementary to Equinix’s connectivity services.”
The Nordics continue to attract digital infrastructure investment, supported by a stable economy and focus on research and technical expertise. Access to renewable energy, combined with a cool climate, supports data center operations in the region.
Source: atNorth
About atNorth
atNorth, based in Reykjavík, Iceland, operates data centers across the Nordic region, providing high-density colocation, build-to-suit facilities, and connectivity services for enterprises, hyperscalers, and high-performance computing (HPC) users. The company serves industries such as AI, cloud computing, infrastructure, and research. Founded in 2009, it has operated for about 16 years. atNorth runs eight data centers in Iceland, Sweden, and Finland, with additional sites under construction in Kouvola, Finland, and Ølgod, Denmark, and a planned facility in Sollefteå, Sweden. Its operations use renewable energy and emphasize energy efficiency and circular economy principles. The company designs its facilities for scalability, power efficiency, and flexible deployment to meet long-term infrastructure needs across the region.
About Equinix
Equinix is a data center and interconnection company founded in 1998 and based in Redwood City, CA. The company operates data centers worldwide and provides colocation and network connectivity services. Customers use its facilities to house servers, connect to carriers, and exchange data traffic. Equinix serves telecommunications providers, cloud and IT companies, financial institutions, healthcare organizations, and enterprises. Its data centers span North America, Europe and Asia-Pacific. The company serves more than 10,000 customers globally and employs about 13,600 people. Equinix generates revenue by leasing space, power, and cooling capacity, and by providing interconnection services between customers and network providers.