Deutsche Bank’s asset management arm, DWS, is reportedly in talks to sell its data center operations, NorthC, with the transaction anticipated to exceed €2 billion.
NorthC, which is primarily owned by DWS infrastructure funds, was established in 2020 through the merger of two Dutch operators, the Datacenter Group and NLDC, both of which were acquired by the German asset manager the previous year. The company operates over 20 facilities across the Netherlands, Germany, and Switzerland, offering server space to a diverse range of clients, including IT service providers, government agencies, and healthcare organizations.
This strategic decision to divest comes shortly after NorthC’s acquisition of six data centers in Germany and the Netherlands from Colt Technology Services. DWS, which is 80% owned by Deutsche Bank, is advised by Torch and Evercore in this potential sale, as reported by financial sources.