NorthC Group, a regional colocation data center operator in the Netherlands backed by German asset management firm DWS Group, announced that it has agreed to acquire German colocation provider IPX (IP Exchange GmbH), a subsidiary of q.beyond AG, an IT services provider in Germany, for an enterprise value of €44m ($51.5m). Specifically, NorthC is acquiring two data centers in Nuremberg and Munich, Germany with 7+ megawatts of power capacity across 151k sqft (14.0k sqm).

IP Exchange q.beyond Nuremberg Munich Germany Data Center Map

Notably, q.beyond is not selling its two data centers in Hamburg, where the company offers managed services and private cloud solutions to small- and medium-sized enterprise customers.

IP Exchange – Overview

IP Exchange provides colocation, connectivity, and managed services to customers in several industries. Below are details on the two IP Exchange data centers in Germany which NorthC is acquiring from q.beyond:

Nuremberg, Germany – Data Center

IP Exchange’s Nuremberg facility resides in the Nürnberg-Feucht-Wendelstein business park and is the larger of the company’s two data centers. Particularly, the Nuremberg site comprises 113k sqft (10.5k sqm), of which 53.8k sqft (5.0k sqm) is data center space. In terms of power, the Nuremberg facility has a supply with a total output of 7.8 MVA.

Munich, Germany – Data Center

IP Exchange’s Munich facility is located at the former headquarters of semiconductor manufacturer Infineon. Subsequently, the building was refurbished into a data center with ~38k sqft (~3.5k sqm) of area. In terms of power, the Munich facility has a supply with a total output of 3.2 MVA.


NorthC notes that the two data centers it is acquiring in Nuremberg and Munich, Germany have “further expansion opportunities”.

Connectivity and Services

IP Exchange’s data centers are interconnected via a redundant backbone network. Additionally, these facilities offer connectivity and services from companies including Anexia, euNetworks, Globalways, and Opteamax.


q.beyond’s entire colocation business, comprising three data centers, which previously included the entity IP Colocation GmbH (sold in July 2021), generated annual revenue of ~€20m. Specifically, the prior IP Colocation GmbH sale was to DATEV, an existing customer, who acquired a data center it used in Nuremberg.

Transaction Rationale – NorthC Group Acquires IP Exchange

NorthC Group’s acquisition of IP Exchange enables the company to expand beyond the Netherlands, with operations in the German market. Indeed, IP Exchange provides NorthC with a platform to build a regional network in Germany, similar to the Netherlands.

NorthC Group – Data Centers – Netherlands

NorthC Group DWS Netherlands Data Center Map

Additionally, the acquisition allows NorthC to build on the managed services platform that IP Exchange has been operating.

NorthC’s proximity to clients is an important differentiator for its data center business. The company enables customers to optimize their redundant infrastructure and benefit from regional ecosystems.

Transaction Advisors – NorthC Group

NorthC Group and DWS’ financial advisor was ING. Additionally, NorthC Group and DWS’ legal advisor was Hogan Lovells.

Mary Zhang covers Data Centers for Dgtl Infra, including Equinix (NASDAQ: EQIX), Digital Realty (NYSE: DLR), CyrusOne, CoreSite Realty, QTS Realty, Switch Inc, Iron Mountain (NYSE: IRM), Cyxtera (NASDAQ: CYXT), and many more. Within Data Centers, Mary focuses on the sub-sectors of hyperscale, enterprise / colocation, cloud service providers, and edge computing. Mary has over 5 years of experience in research and writing for Data Centers.


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