GlobalConnect, a pan-Nordic infrastructure operator, is looking to quietly sell its data centers, believed to have a value between DKK 4 and 6 billion ($584-876.1m)

According to Borsen, GlobalConnect engaged the global investment bank Jeffries last year and has entered the market to find a buyer.

-GlobalConnect – GlobalConnect

The CEO of GlobalConnect, Martin Lippert, declined to comment to Borsen.

Whilst he neither confirmed nor denied the information, CFO, Lasse Pilgard, said: “We always look at our portfolio of companies to see where we can best deliver value. The market for data centers is very interesting right now because many people want to invest in them and preferably in Scandinavia. So it’s an interesting asset we have, and of course, we have to find out how to develop it as best as possible.”

Ionanalytics previously reported in January that GlobalConnect was launching a formal sale of its data centers with one source adding that prospective buyers have already been offered a teaser.

The EQT Infrastructure-backed company says it currently has 17 data centers across Northern Europe and the company claims it manages more than half of all data traffic in the Nordics. The company operates approximately 215,000km (133,000 miles) of fiber and 35,000 sqm (38,000 sq ft) of data center space.

Founded in 1998, GlobalConnect operates a 150,000 km fiber network across Northern Europe. EQT Infrastructure has been the company's majority shareholder since 2016, with Mubadala joining as a minority investor in 2022.

EQT Infrastructure’s VI fund invested in EdgeConneX at the beginning of this year and, earlier this month, reports from Australian Financial Review said EQT Infrastructure is considering acquiring a large portion of Global Switch’s data center portfolio.

GlobalConnect sold its outsourcing division to Unit IT, a member of the USTC group, in December 2023. At the time CEO Lippert itwatch that outsourcing was no longer a priority and it intended to ‘streamline’ the business.

GlobalConnect has since announced the completion of their 2,600km fiber cable, running from Northern Sweden to Berlin earlier this month. The cable includes 700km of subsea cables and uses the island of Bornholm as the digital gateway between the Nordics and Europe.

In February, Google opened its first data center in Norway. Microsoft also has a cloud region in Norway, launched in 2019, and purchased land in Finland for a data center project at the end of last year.