Data Center Transactions: Mastering Legal and Strategic Issues
In today’s digital-first economy, data centers have become the backbone of global IT infrastructure. These highly specialized facilities host and process massive volumes of mission-critical data. Whether it’s the acquisition or sale of a data center, or the negotiation of complex contractual arrangements, our lawyers guide you through every aspect of these transactions.
Our expertise in data center deals
With more than twenty years of experience, our firm advises on strategic investments in data centers across France and Europe, ensuring that every stage of these transactions is fully secured. We notably advised Interxion, a European market leader, on all aspects of its growth, through to its acquisition by Digital Realty Trust
, one of the two global leaders in the sector, which we now represent in France.
Given the critical nature of the data entrusted by clients for hosting, buying or selling data centers, as well as drafting and negotiating contracts with suppliers and customers, are far from routine matters. In this article, we outline the key considerations to successfully execute such deals in the fast-evolving data center industry.
Over the years, we have advised on projects totaling nearly €2 billion, including landmark investments in Paris and Marseille. In 2023, we also acted for nLighten - I Squared Capital, a European leader in edge data center platforms - on the acquisition of data centers, further demonstrating our expertise in this constantly evolving market.
Navigating data center M&A and investments
The purchase or sale of a data center involves several critical stages where specialized legal support is indispensable. Our firm advises at every step of the process, from securing target sites (often referred to as “white elephants” due to the scarcity of locations large enough and close to the required infrastructure and energy sources) to their acquisition, often through a competitive bidding process.
Our services include preparing pre-contractual documentation, conducting comprehensive due diligence, drafting and negotiating real estate agreements, as well as providing regulatory and tax advisory support.
According to our partner Pierre-Menno de Girard, “these contracts are particularly complex because, given the regulatory timelines and constraints surrounding the opening or expansion of a data center, several years may pass between securing the so-called ‘white elephant’ site and confirming the project’s feasibility.”
Our support also covers the drafting and negotiation of contracts relating to the construction and operation of data centers with both suppliers and customers, as well as the implementation of tailored contractual mechanisms to ensure energy resilience and facility security.
Specific challenges in data center transactions
Our experience has given us a deep understanding of the unique challenges faced by data center investors and operators. These transactions involve highly specific considerations, including power supply, data security, and complex regulatory requirements.
Moreover, operating a data center requires carefully structured contractual mechanisms to ensure the reliable functioning of infrastructure and sustained client satisfaction.
Against this backdrop, our law firm leverages its expertise and track record to support investors and operators in executing their projects, thereby contributing to the development of a robust and secure digital infrastructure.
Read more
Investing in the rising data center economy, Etude McKinsey, Janvier 2023
M&A trends in the data centre market, STL Partners, 2023
Comment Marseille est devenue une capitale mondiale des centres de données, Le Figaro, avril 2025
Datacenters : la souveraineté numérique fait consensus dans les débats, Loctalis, Banque des territoires