PC: PR Newswire
The subsidiary of Damac Properties, EDGNEX Data Centers, has acquired Finnish data centre company Hyperco. The move aims at creating a strategic presence of EDGNEX in Europe, looking to take advantage of the digital prowess of the Nordic supercontinents. Details of the acquisition are not public, and the financial details remain undisclosed.
Founded in Finland, the company operates mainly in Finland and Sweden, exploiting its region’s low carbon, high connectivity energy sources to meet the fast growing digital requirements of businesses. The three founders of Hyperco, however, will continue to oversee company operations through the EDGNEX umbrella with the existing management team, whichever founded the Hyperco. Damac Group Founder, Hussain Sajwani, said the company was looking to become a large player in the future capacity building for the Nordics and successfully affirm itself within the market.
Aimed at the Middle East, EDGNEX has set targets for global operations of 55 megawatts (MW) of capacity in the Middle East by 2025, totalling more than 3,000 MW. In addition, the company is aiming to add more than 300 MW of electricity generation capacity coming soon with over $3 billion in investment pipeline. The projects include large ones in Southeast Asia and Europe, including a €150 million joint venture in Greece for up to 25 MW and €400 million into supporting 40 MW of data centre development in Madrid, Spain.
EDGNEX, earlier this year, announced its plans to attract huge $20 billion foreign investment for building state of the art data centres in the United States. EDGNEX has been on a rapid growth since its launch in 2021 and achieved great presence throughout multiple regions such as the Middle East and its surrounding areas, Southeast Asia, and Europe, putting this expansion into the U.S. market as a new transformational one.
The acquisition of Hyperco strengthens EDGNEX’s strategy to strengthen its capability and offering in the data centre sector and regions with increasing significance as digital infrastructure hubs. As the Nordic region places an emphasis on sustainability, the market for data centre operations is attractive for EDGNEX because of it, with Hyperco set to capitalize on its advantages.
In short, with Hyperco acquisition, EDGNEX is making a very first step in EDGNEX’s expansion strategy; this will allow EDGNEX to provide better service in the ever-growing needs of the digital economy and complements its commitment towards the development of a sustainable data centre industry.
