Azrieli Group: will acquire a company operating a server farm in London for NIS 200 million

The Azrieli Group announced the completion of a transaction worth approximately NIS 200 million (approximately £ 52 million) for the acquisition of a company operating a server farm in London and the purchase of vacant land adjacent to it.
The server farm has lease agreements with customers for an average period of 5 years and a volume of about 7.4 megawatts. According to Azrieli's announcement, the purchased land has the potential to build and develop a server farm of about 40 megawatts in the future.
The deal is another step in the development of Azrieli's server business: In July 2021, the group acquired the Norwegian server farm company Green Mountain for NIS 2.8 billion - Green Mountain operates 3 server farms in Norway on contracts with various customers in the amount of 24 megawatts.
According to Azrieli's plan, the acquired London activity will cooperate with the Norwegian company, which will provide it with marketing and operations services, along with assistance in upgrading and improving the efficiency of the acquired farm - including increasing the amount of megawatts for rent. The two companies will also examine the possibility of jointly establishing another farm on the land adjacent to the London site.
In addition to its server farm business in Europe, Azrieli owns 24% of the Canadian company Compass, which operates farms in North America. As of the end of March 2022, the Azrieli Group owned a total of 16 server sites around the world with a registered value of approximately NIS 5.4 billion - approximately 12% of the value of its assets. Along with the initiation of 11 additional sites.
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