Azrieli Group is expanding its data center operations to Europe through the acquisition of Green Mountain, a private company that operates in the data center sector in the Scandinavian market.
Azrieli is paying ILS 2.8 billion ($848 million) for 100 percent of the share capital in Green Mountain, which has been operating in the field of server farms since 2009. The company holds several real properties, which are leased to third parties and are used by the company for its operations in the field of server farms.
Green Mountain operates three server farms in Norway and has signed contracts for some 24 megawatts with customers, for an average period of 7.5 years. Green Mountain also has future construction and development potential at these and additional sites of 520 megawatts.
According to Azrieli, inquiries made by the company indicate the Scandinavian market, and particularly the Norwegian market, is experiencing significant growth in the data center market, a