Israeli real estate firm Azrieli Group expanded its operations in the data centers sector to Europe with the acquisition of Green Mountain for around NIS 2.8 billion. Green Mountain was incorporated in Norway in 2009, operating three server farms in the country.
For expanding in data center sector
Its server farm activities cover planning and construction of server farms with high-level information security, providing advanced service farm services to organizations and wholesale customers, highly efficient operation of server farms while using 100% renewable energies.
Danna Azrieli, Chairman of Azrieli Group, talked about the acquisition, saying,
“Acquiring Green Mountain is a key milestone in realizing Azrieli Group’s strategy for building international operations in the Data Centers sector. The combination of the operations in North America through Compass with the acquisition of Green Mountain in Europe will allow Azrieli Group to become a significant global player in this growing and developing arena.”
Green Mountain operates three server farms in Norway. In the last 7 years, the company has signed contracts for approx. 24 MW with customers. In recent years, Green Mountain has grown 50% annually.
Azrieli Group will use Green Mountain’s presence in the European Data Centers market, its experienced management, professional knowledge, and business network to grow in data center sector.