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Abu Dhabi-based Mubadala Investment Company announced that it has signed an agreement with EQT Infrastructure to acquire a minority stake in GlobalConnect, a provider of fibre-based data centre services to Nordic enterprises and public institutions.
Headquartered in Stockholm, Sweden, GlobalConnect was formed in 2019 through the combination of four separate fibre platforms in Denmark, Norway and Sweden owned by EQT Infrastructure.
Under the deal, EQT Infrastructure III and IV funds (EQT Infrastructure) will sell a minority stake in the Swedish company.
In an era of ever-increasing data volumes and a growing need for fast and reliable connections, GlobalConnect plays an important role in providing the necessary digital infrastructure solutions for the societies in which it operates.
Today, GlobalConnect’s infrastructure carries more than 50% of all internet traffic generated in Northern Europe through its 150,000 km fiber optic infrastructure and 35,000 square meters network of data center spaces, and employs approximately 1,800 people in the region.
By welcoming Mubadala as a minority investor in GlobalConnect, EQT Infrastructure aims to expand the company’s long-term shareholder base, while leveraging Mubadala’s prior investment experience in data center and fiber-to-the-home assets in numerous markets.
Khaled Abdulla Al Qubaisi, Chief Executive Officer (Real Estate and Infrastructure Investment) of Mubadala, said: “We are delighted to invest in GlobalConnect with our long-term partner EQT. As responsible investors, we highly value the deals that enable us to invest High-belief assets and industries that create and positively impact their communities.”
“Investing in digital infrastructure enables us to achieve both goals. We look forward to working with GlobalConnect and EQT to capitalize on growth opportunities in data centre and fibre-to-the-home assets and to support the development of digital infrastructure in Europe, a vital digital An enabler of inclusion and socioeconomic progress,” he said.
Carl Sjölund, Partner at EQT Infrastructure Consulting, said: “As data usage and internet traffic continue to increase, the underlying digital infrastructure must keep up with future demands.”
He added: “EQT Infrastructure remains committed to GlobalConnect’s ambition to increase society’s digital connectivity and we are delighted to welcome Mubadala to this journey.”-TradeArabia News Service
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