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16 Oct, 2022
1 min time to read

Mubadala Investment Company has acquired a minority stake in Swedish data and services company GlobalConnect, owned by investment firm EQT.

EQT Infrastructure, which has invested in GlobalConnect since 2017, remains the company's largest shareholder following the transaction.

Having a stake in Mubadala allows EQT Infrastructure to expand its long-term shareholder base and leverage Mubadala's investment expertise in developing data centres and fibre networks in various markets.

As data usage and internet traffic continue to increase, it is vital that the underlying digital infrastructure keeps up to meet future demand,

Carl Sjölund, a partner at EQT Infrastructure’s advisory team, said.

GlobalConnect was established in 2019 following the merger of four independent fibre platforms in Denmark, Norway and Sweden owned by EQT Infrastructure. It provides fibre-optic data services and data centres for businesses, public institutions and consumers in Northern Europe, and is headquartered in Stockholm.

As a responsible investor, we highly prize those deals that enable us to invest in high conviction assets and sectors for value creation and to deliver a positive impact on communities,

Khaled Al Qubaisi, chief executive, real estate and infrastructure investments at Mubadala, said.

The size of the stake and the value of the deal were not disclosed.