Damac’s EDGNEX Acquires Hyperco to Expand European Data Center Presence

Technology

Damac’s EDGNEX Acquires Hyperco to Expand European Data Center Presence

EDGNEX Data Centres by Damac, the digital infrastructure arm of Dubai-based Damac Group, has acquired Finnish data center company Hyperco, marking a significant expansion into the European market.

The acquisition reinforces Damac’s commitment to developing the region’s digital infrastructure, fostering economic growth, and creating new job opportunities. Hyperco operates in Finland and Sweden, leveraging the Nordic region’s sustainable energy resources, mature digital ecosystems, and high connectivity.

While Damac did not disclose the value of the deal, the acquisition aligns with its broader global expansion strategy. Earlier this year, the company announced plans to invest $20 billion (Dh73.4 billion) in the United States.

Hussain Sajwani, founder of Damac Group, emphasized the strategic importance of the deal. "This acquisition aligns with our vision to develop strong partnerships, invest, and build scalable, world-class digital infrastructure. Hyperco brings a great team, deep market expertise, and a shared commitment to innovation, which will drive our success in the region," he said.

Aleksi Taipale, co-founder and CEO of Hyperco, highlighted the acquisition's benefits: "Joining forces with EDGNEX and Damac Group empowers us to accelerate our mission of delivering large-scale, sustainable data center infrastructure tailored for hyperscalers and AI-driven workloads. With our established footprint in Finland and Sweden, access to low-carbon energy, and focus on scalability, we are well-positioned to meet the growing digital demands of the region and beyond."

Since its inception in 2021, EDGNEX has rapidly expanded its global footprint. The company is on track to deliver 55 MW in the Middle East by 2025 and targets a global capacity of over 3,000 MW. By 2026, it plans to have more than 300 MW of operational capacity, supported by a $3 billion investment pipeline, including expansion into Southeast Asia.

EDGNEX’s recent European initiatives include a €150 million joint venture with Public Power Corporation (PPC) in Greece to develop up to 25 MW and a €400 million investment to build a 40 MW data center in Madrid, Spain.

With this latest acquisition, Damac continues strengthening its position as a key player in the global digital infrastructure market.