Israeli real estate group Azrieli on Monday announced its expansion of operations to Europe by acquiring Norway’s data centre services firm Green Mountain. Azrieli announced in a press release that it is acquiring 100 percent of Green Mountain for around NIS 2.8 billion ($849.2m).
According to the release, Green Mountain is a private company that was incorporated in Norway in 2009, which has been operating in the field of server farms since its incorporation, in three main areas – planning and construction of server farms with high-level information security, provision of advanced service farm services to organisations and wholesale customers and efficient operation of server farms. The acquisition of Green Mountain is being made as part of the company’s growth strategy, in the context of which the company has entered the server farm sector, and expansion of its operations in this sector, it said.
Arieli is known in the digital infrastructure sector as one of the investors in Compass Datacentres, a US based private developer that builds wholesale data centres, and has helped back an international expansion for Compass.
According to reports, Azrieli is in the process of raising a new round of debt, part of which it plans to use to fund the Green Mountain acquisition. Up to half of the financing will come from an additional loan it plans to get.