- The majority of shareholders have voted in favour of selling all company shares to Northern Data AG
- The sale includes the data center in Sweden, as previously announced
- Hydro66 will retain Megamining Limited, their wholly-owned subsidiary
- In total 99.97% of shares represented at the meeting voted to approve the transaction
- Hydro66 owns and operates an award-winning colocation data centre in Sweden specializing in High-Performance Computing hosting
- Hydro66 opened trading at C$0.20 per share
Hydro66 Holdings (SIX) has announced the majority of shareholders have voted in favour of selling all company shares to Northern Data AG.
The sale includes the data center in Sweden operated by Hydro66 UK’s wholly-owned subsidiaries, Hydro66 Services AB, Hydro66 Svenska AB and Hydro66 Property Services.
David Rowe, CEO of Hydro66, said, “Incorporating Hydro66’s assets, expertise and expansion capability into Northern Data’s plans is a win for both parties. Aroosh continues to create huge value for Northern Data shareholders through a series of astute moves and I believe this proposed transaction will benefit both parties in delivering shareholder value.”
Aroosh Thillainathan, CEO of Northern Data, said, “The acquisition helps us to meet the current strong demand for HPC through our own infrastructure. Hydro66 has built a unique facility and brand in Sweden which is ideal for AI and ML type HPC applications. We intend to expand the site during the year and utilize the low power costs and exceptional green credentials of the facility to meet customer demand and deliver enhanced profitability for the Northern Data Group in 2021 and beyond. David and his team have in-depth experience which will prove invaluable for Northern Data as we expand to cement our position as the leaders in HPC globally.”
Hydro66 will retain its wholly-owned subsidiary, Megamining Limited.
In total 99.97% of shares represented at the meeting voted to approve the transaction.
Hydro66 owns and operates an award-winning colocation data centre in Sweden specializing in High-Performance Computing (“HPC“) hosting. The company hosts third party IT infrastructure, utilizing 100% green power.
Hydro66 opened trading at C$0.20 per share.
