London-based Verne Global, a tech company focused on providing data centers, announced that it has been acquired by Digital 9 Infrastructure plc (D9), the newly established investment trust that invests in a range of digital infrastructure assets which deliver a reliable, functioning internet.
The acquisition is valued at approx £231M (approx €269.1M) in cash.
Sustainable high-intensity computing
Verne Global aims to tackle the data centre industry’s fastest-growing problem – the rising and unpredictable cost of power as well as the availability of power sources. These factors, including concerns over data center carbon emissions, have led Verne Global to build an environmentally friendly data centre campus, harnessing only renewable energy sources.
Founded in 2007, Verne Global delivers data centre solutions for high-intensity computing, engineered for optimal high-performance compute and built upon 100 per cent renewable energy. The company says, “our clean grid and stable climate cuts costs and energy usage, and our expert team provides on-site, around-the-clock support to maximise performance and flexibility for customer workloads.”
The company’s 40-acre data centre campus provides “highly specialist” data centre services for organisations running high-intensity workloads, such as AI, machine learning, high-performance computing (HPC), and supercomputing. It powers industries including financial services, earth sciences, life sciences, engineering, scientific research, and AI.
Iceland’s stable energy grid customers can get long-term price visibility, while the local climate supports free cooling 365 days a year.
Speaking on the development, Dominic Ward, CEO of Verne Global, says, “We are absolutely delighted to become part of the Digital 9 Infrastructure platform. Its mission to support and develop highly resilient digital infrastructures that fuel innovation, but are also sustainable and inclusive, resonates tremendously with Verne Global’s own business objectives.”
How will this acquisition help D9?
D9 aims to provide resilient digital infrastructures that are integrated with green and cleaner power in line with UN Sustainable Development Goal 9 – to “build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation.”
This acquisition of Verne Global, together with D9’s recent subsea investment in Aqua Comms, aims to decarbonise digital infrastructure by increasing access to data centres in areas where there are ample supplies of clean energy. In addition, D9 is also pursuing fibre network opportunities to improve connectivity into the Nordics.
About Digital 9 Infrastructure plc
Digital 9 Infrastructure plc is a newly established, externally managed closed-ended investment company.
The company’s Investment Manager is Triple Point Investment Management LLP, an experienced manager with over £2B of private, institutional, and public capital and has experience in asset and project finance, portfolio management, and structured investments.
D9’s portfolio comprises future-proofed, non-legacy, scalable platforms, and technologies including subsea fibre, data centres, terrestrial fibre, tower infrastructure, and small cell networks (including 5G). The company will focus, primarily, on digital infrastructure investments which are operational and with contracts in place with customers or counterparties where appropriate.