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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 fiber-based data center services to Nordic enterprises and public institutions.
Headquartered in Stockholm, Sweden, GlobalConnect was created in 2019 by merging four independent fiber platforms located in Denmark, Norway and Sweden, and is 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 increasing data volumes and growing demand for fast and reliable connections, GlobalConnect plays an important role in providing essential digital infrastructure solutions to the societies in which it operates.
Today, GlobalConnect’s infrastructure carries over 50% of all Internet traffic generated in the Nordics through its network of 150,000 kilometers of fiber optic infrastructure and 35,000 square meters of data center space, and employs around 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 building on Mubadala’s previous experience investing in data center and fiber-to-the-home assets in numerous markets.
Khaled Abdulla Al Qubaisi, Chief Executive Officer (Real Estate and Infrastructure Investments), Mubadala, said: “We are delighted to invest in GlobalConnect alongside our long-term partner EQT. As a responsible investor, we place high value on those Create value and positively impact communities in high-conviction assets and sectors.”
“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 centers and fiber-to-the-home assets, and to support the development of digital infrastructure in Europe, which is critically important for digital Drivers of inclusion and socioeconomic progress,” he said.
“As data usage and internet traffic continue to grow, it is critical that the underlying digital infrastructure is future-proof,” said Carl Sjölund, partner in the consulting team at EQT Infrastructure.
“EQT Infrastructure remains committed to realizing GlobalConnect’s ambition to improve digital connectivity in society, and we are delighted to welcome Mubadala to this journey,” he added.-TradeArabia News Service
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