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DigitalBridge establishes ÍslandsTurnar in Iceland

Marc Ganzi (2).png

DigitalBridge Group has announced the formation of its new towerco ÍslandsTurnar.

ÍslandsTurnar was created using funds affiliated with DigitalBridge Investment Management (DigitalBridge) following the acquisition of the telecom tower portfolios of Sýn hf. (Sýn) and Nova hf. (“Nova”), two Icelandic mobile network operators (MNOs).

“The creation of ÍslandsTurnar is a unique opportunity to establish a leading independent tower company in Iceland and support both Sýn and Nova in their operation of high-quality mobile networks as well as accelerating their 5G network deployment,” said Marc Ganzi (pictured), president and CEO of DigitalBridge.

“We are excited to play a role in Iceland’s stable, attractive and digitally advanced telecom market, bringing DigitalBridge’s deep experience of successfully owning and operating tower portfolios on a global basis.”

The launch of ÍslandsTurnar marks the first independent tower company of scale in Iceland with national coverage to support the MNOs as they deploy 5G.

Joakim Reynisson, the former chief technology officer of Nova, has been appointed Chief Executive Officer of ÍslandsTurnar, effective immediately.

“This is an exciting opportunity to set up the first independent tower company in my home market of Iceland," said Reynisson.

"We are proud that two anchor tenants of the calibre and technical experience of Sýn and Nova have entrusted us with their mission-critical network infrastructure. I am looking forward to working with DigitalBridge to deliver high-quality telecommunication infrastructure services in Iceland.”

As part of the deal, Sýn and Nova are due to become long-term dual-anchor tenants on the company’s towers and the transaction includes a material build to suit program.

The investment bolsters DigitalBridge’s presence in the Nordics, following the firms acquisition of Finland-based Digita Oy in 2018.

Earlier this month, Vantage Data Centres and its lead investor, Digital Bridge Group, completed the acquisition of PCCW’s data centre business.

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