European Union: European Commission approved acquisition of Evolution by ZeroTwo and WP

On 16 September 2025, the European Commission approved the joint acquisition of Frontier Global Investments and Evolution DC Capital by ZeroTwo and Warburg Pincus under Article 6(1)(b) of the European Union's (EU) Merger Regulation. The Article sets out when the European Commission may clear a merger, with or without remedies, to address competition concerns. The merger concerns the data centre sector, with ZeroTwo serving as Abu Dhabi Developmental Holding Company's digital infrastructure arm and Evolution building data centres for cloud and Artificial Intelligence (AI) growth in Southeast Asia. It was stated that neither of the entities is operational in the EU or European Economic Area (EEA). The Commission found no competition concerns, and confirmed compatibility with the EU internal market and the EEA Agreement.