DAMAC’s EDGNEX Data Centers eyes Nordic expansion, acquires Hyperco

Dubai-headquartered EDGNEX Data Centers by DAMAC, the digital infrastructure arm of DAMAC Group, has acquired Finland-founded data centre company Hyperco, reinforcing its presence in the European market.

Hyperco operates in Finland and Sweden, leveraging the region’s renewable energy sources, mature digital ecosystem, and high connectivity.

The company’s three co-founders and existing team will continue to lead operations through the next phase of growth.

Significant future capacity in the Nordics

“This acquisition aligns with our vision to develop strong partnerships, invest, and build scalable, world-class digital infrastructure,” said Hussain Sajwani, founder of DAMAC Group. “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 significant future capacity in the Nordics and establish a strong foothold in the market.”

Aleksi Taipale, co-founder and CEO of Hyperco, described the acquisition as a transformative step. “Joining forces with EDGNEX and DAMAC Group empowers us to accelerate our mission of delivering large-scale, sustainable data centre 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.”

US market entry with $20bn investment

This development follows EDGNEX’s major foray into the US market, where the company has committed an initial $20bn investment to develop data centres with a planned 2,000MW capacity over the next four years.

The investment, announced in January this year, could potentially double depending on future demand, market opportunities, and scalability.

The company’s US strategy focuses on key Sunbelt states, including Texas, Arizona, Oklahoma, and Louisiana, and the Midwest states such as Ohio, Illinois, Michigan and Indiana.

Commenting on the investment at the time, Sajwani said, “Our foray into the US market in data centres represents a significant milestone in our journey to build a global digital infrastructure platform that will empower businesses today and in the future. Leveraging our expertise in real estate and data centers, we aim to deliver best-in-class infrastructure that supports the next wave of cloud and AI growth.”

The first phase of EDGNEX’s US expansion includes the acquisition of land banks, partnerships with utilities, and joint ventures to establish an initial capacity of 500MW — one in the Sunbelt and one in the Midwest.

Strengthening European presence with Madrid facility

EDGNEX has been actively investing in Europe, including a EUR150m joint venture in Greece with Public Power Corporation (PPC) to develop up to 25 MW and a EUR400m commitment to build a 40 MW data centre in Madrid, Spain.

The company has also been expanding its European footprint, acquiring a prime 22,000 square metre site in Madrid for the development of a 40MW data centre in October last year. The facility, located in the Vicalvaro region, is set to commence operations by 2026.

Madrid is increasingly becoming a key data centre market outside of the traditional FLAPD hubs (Frankfurt, London, Amsterdam, Paris, and Dublin), driven by strong demand for high-quality digital infrastructure.

EDGNEX focused on growing global footprint

Since launching in 2021, EDGNEX has expanded globally, supported by a team of over 100 professionals.

The company aims to deliver 55 MW in the Middle East by 2025, with a projected global capacity exceeding 3,000 MW.

By 2026, EDGNEX targets over 300MW of operational capacity, backed by a $3bn investment pipeline, including expansion in key Southeast Asian markets.

The company’s existing operational data centres include a 10MW facility in Saudi Arabia and a 5MW facility in Thailand, set to be operational by Q1 2025.