Data centre operator NextDC (ASX:NXT) has executed the contract to acquire the land needed to build a new data centre in Northern Sydney, and has now started due diligence on the deal.
NextDC announced last week that it planned to buy a data centre site in North Sydney by April. The seller has not been named.
The company has just completed a $33.6 million funding round, of which $12 million is expected to go to purchasing this land. NXT shares grew 0.32% on Tuesday to $1.550.