31-03-2025
Dubai: Damac's EDGNEX acquires European data centre firm
EDGNEX Data Centres by Damac, the digital infrastructure platform of the Dubai-headquartered Damac Group, has acquired Finland-founded data centre company, Hyperco.
The Dubai-based property giant aims to strengthening its presence in the European market and contributing to the region's evolving data center landscape, creating new jobs and promoting economic development.
Damac, however, didn't disclose the value of the acquisition.
Earlier this year, Damac Group announced plans to invest $20 billion (Dh73.4 billion) in the US.
Hyperco's operations are focused on Finland and Sweden, leveraging the Nordic region's sustainable energy resources, mature digital ecosystems, and high connectivity. All three Hyperco founders, together with the team, will continue to steer the company forward during the next growth phase.
'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. We plan to build a significant future capacity in the Nordics and establish a strong foothold in the market,' said Hussain Sajwani, founder of Damac Group.
'This marks an exciting new chapter for Hyperco. 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,' said Aleksi Taipale, co-founder and CEO of Hyperco.
Since its launch in 2021, EDGNEX has grown its presence globally. Backed by over 100+ seasoned professionals, the company is on track to deliver 55 MW in the Middle East by 2025, with a projected global capacity exceeding 3,000 MW. EDGNEX is targeting more than 300MW of operational capacity by 2026, supported by a robust investment pipeline of over $3 billion, including key Southeast Asian markets.
EDGNEX's recent European activities include a €150 million joint venture in Greece with Public Power Corporation (PPC) to develop up to 25 MW and a €400 million commitment to build a 40 MW data center in Madrid, Spain. Earlier this year, EDGNEX also announced $20 billion of foreign investment in building state-of-the-art data centres in the USA.
