Nordic data center developer and operator DigiPlex, has entered into a definitive agreement to be acquired by affiliates of IPI Partners, LLC, a global data center investment platform.

Upon completion of this transaction, IPI will gain 100% ownership of all DigiPlex Group companies, expanding its portfolio with the addition of DigiPlex’s 8 data centers across campuses in Oslo, Norway; Stockholm, Sweden; and Copenhagen, Denmark with a combined footprint of 21,000 square meter built whitespace and over 400,000 square meters of land currently available for customer expansion.

“What DigiPlex has achieved over the past 20 years is an amazing accomplishment and a testament to the incredible people who work there. It is the right time to give DigiPlex extended firepower to capitalize on its advantages and benefit from the next wave of growth in the industry,” said J. Byrne Murphy, founder and Chairman of DigiPlex.

“It is also crucial to me and to my partner, Bill Conway, to hand DigiPlex off to new owners who recognize and support its people, culture, experience, and customers, as well as the communities in which it operates.”

Co-sponsored by ICONIQ Capital, LLC and an affiliate of Iron Point Partners, LLC, IPI is leveraging the combined network of its sponsoring firms to build a global data center portfolio, and with Digiplex acquisition, IPI looks to gain an immediate significant leadership position in Northern Europe data center market. DigiPlex also marks IPI’s second acquisition in Europe, following the purchase of Milan-based SUPERNAP Italia in February 2021.

“DigiPlex is a market leader in the high-growth Nordic data center sector and we have long admired the quality of its management, employees and business strategy. With DigiPlex’s existing scaled presence and deep development expertise, we will significantly expand our hyperscale-focused data center portfolio in Europe, a key region of focus for IPI,” said Matt A’Hearn, Partner at IPI.

“We are excited to partner with the DigiPlex team to further realize on the company’s tremendous growth potential. Utilizing our network and existing businesses, we believe we can together build a platform that meets the rapidly evolving needs of the digital economy in the Nordics and beyond.”

Although financial terms were not disclosed, this transaction is scheduled to close in Q3 2021, and a call notice is expected to be served on holders of bonds issued by Norwegian DigiPlex entities as issuers listed on the Oslo Stock Exchange for their early redemption in accordance with their terms.