Finnish telecom tower and data center operator Digita and Icelandic tower firm IslandsTurnar have been sold to investment firm GI Partners.

The company announced the sale this week. Digital infrastructure investment firm DigitalBridge was the seller.

Terms were not shared. The transaction is expected to close in the first quarter of 2026.

The deal was for Digita Group, which included Digita Oy in Finland and IslandsTurnar in Iceland. Digita said it will continue to operate as an independent company within GI Partners’ portfolio.

Vesa Tykkyläinen, CEO of Digita, said: “We are extremely grateful to DigitalBridge for the resources and expertise they have provided throughout their investment period. Their support and guidance has been instrumental in helping us to invest into the critical infrastructure in Finland whilst diversifying and scaling the business, which is positioned for further compelling growth. We are excited for our new partnership with GI Partners and look forward to continue to grow and achieve our ambitions together.”

Founded in 1999 as a spin-off from national broadcaster Yle, Digita provides digital infrastructure and services to Finland, claiming to be the largest independent owner of telecommunications masts.

French radio services firm TDF Group bought the company from Yle in 2000, and sold it to First State Investments in 2012. DigitalBridge (then Digital Colony) acquired the company from First State in 2018. News that DigitalBridge was looking to potentially sell the firm surfaced in June.

ÍslandsTurnar is the largest independent, privately owned mobile and broadcast infrastructure provider in Iceland, with some 400 sites across the country. DigitalBridge formed the company in late 2021 after acquiring the telecom tower portfolios of local mobile operators Sýn and Nova.

Zach Gellman, Principal at DigitalBridge, added: “We appreciate the partnership with Vesa and the Digita team and the progress made under DigitalBridge’s ownership. GI Partners is well-positioned to lead Digita through its next phase of growth.”

Digita operates a data center site in the Pasila area of Helsinki, offering up to 1.7MW across two buildings, with total capacity for 410 racks across 1,650 sqm (17,760 sq ft). The company also operates around 950 tower sites across the country.

Founded in 2001, GI has more than $47bn in assets under management. The company, which founded and then divested Digital Realty, owns stakes in a number of data centers and also owns US operators LightEdge and Flexential, as well as several connectivity providers.

Matt Barker, head of Europe, data infrastructure for GI Partners, said: “We are excited to be making this platform investment to support Digita and its management team on the next stage of the company’s growth. We recognize the role that Digita plays in providing critical communication and connectivity services to the populations of Finland and Iceland and see great opportunity to further expand the platform as an independent tower company, and operator of high-quality data centers and IoT networks.”

Houlihan Lokey acted as exclusive financial adviser to DigitalBridge; Linklaters as legal counsel; EY as commercial, financial, and tax adviser. Rothschild & Co. acted as exclusive financial advisor to GI Partners and Kirkland & Ellis as legal counsel.