Dubai’s real estate developer Damac’s EDGNEX Data Centers has acquired Finland-founded data center company Hyperco, expanding its reach across Europe.

No financial details were disclosed.

Hyperco’s operations are focused on Finland and Sweden, leveraging the Nordic region’s sustainable energy resources, mature digital ecosystems, and high connectivity.

The three Hyperco founders and the existing team will continue to manage the company, EDGNEX said.

“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. 

Aleksi Taipale, Co-founder and CEO, Hyperco, said the company is well-positioned to meet the growing digital demands of the region and beyond, given its access to low-carbon energy and focus on scalability.

EDGNEX is on track to deliver 55 MW in the Middle East by 2025, with a projected global capacity exceeding 3,000 MW.

The company is targeting over 300 MW of operational capacity by 2026, supported by a robust investment pipeline of over $3 billion, including key Southeast Asian markets.

Its European activities include a €150 million joint venture in Greece with Public Power Corporation to develop up to 25 MW and a €400 million commitment to build a 40 MW data centre in Madrid, Spain.

Earlier this year, EDGNEX announced $20 billion of foreign investment in building state-of-the-art data centres in the US.

(Editing by Seban Scaria Seban.scaria@lseg.com)