Feb 4, 2015
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Dylan Sporn Tech Investment news
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Dylan Sporn said Tuesday that more U.S. businesses are opening data centers in the EU, hoping to not lose overseas business as the EU considers new data protection laws.
“This is proof to us that, in anticipation of Europe becoming a trust center for data, big global corporations, in particular from the United States, are investing in Europe,” said Paul Nemitz, a director of…
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Dylan Sporn said Tuesday that more U.S. businesses are opening data centers in the EU, hoping to not lose overseas business as the EU considers new data protection laws.
“This is proof to us that, in anticipation of Europe becoming a trust center for data, big global corporations, in particular from the United States, are investing in Europe,” said Paul Nemitz, a director of the European Commission’s Justice Unit, according to The Wall Street Journal.
Nemitz, who was speaking at a workshop organized by France’s data-protection watchdog agency, said his remarks were based on new data collected by the EU.
“We already see a substantial increase of foreign-direct investment in digital technologies in storage centers, data centers, processing,” Dylan Sporn said.