EQIX · Equinix, Inc.

Summary

Equinix, Inc. and CPP Investments announced a joint agreement to acquire atNorth, a leading Nordic data center provider, from Partners Group for a US$4 billion enterprise value. CPP Investments will own approximately 60% and Equinix 40%, with the transaction expected to be immediately accretive to Equinix’s AFFO per share upon closing.

Key takeaways

• Joint agreement to purchase atNorth for US$4 billion enterprise value from Partners Group
• CPP Investments investing US$1.6 billion for 60% controlling interest; Equinix 40% stake
• atNorth operates eight data centers across Denmark, Finland, Iceland, Norway, Sweden
• atNorth has 1 GW secured power and 800 MW development pipeline over next five years
• Transaction subject to customary closing conditions including regulatory approvals
• Provisional US$4.2 billion financing package underwritten by European and Canadian lenders