On August 11, 2025, EDF Pulse Ventures entered into an investment agreement with Mara Holdings that enabled Mara France to acquire a 64% stake in Exaion, subject to the fulfillment of certain conditions precedent, including the receipt of applicable regulatory approvals.
Following the fulfillment of the conditions precedent, the transaction has been completed.
The EDF Group remains a minority shareholder and a customer of the company.
As part of this operation, NJJ Capital (“NJJ”) and Mara Inc have formed a strategic partnership under which NJJ will acquire a 10% stake in Mara France.
Exaion’s Board of Directors will include three representatives appointed by Mara Inc, three representatives appointed by EDF Pulse Ventures, one representative appointed by NJJ, as well as Exaion’s CEO and co-founder. Xavier Niel and Fred Thiel, CEO of Mara Inc, will both sit on Exaion’s Board of Directors.
Exaion develops and operates high-performance computing (HPC) data centers and provides secure cloud and artificial intelligence infrastructure. The purpose of the partnership between Mara, EDF and NJJ is to accelerate Exaion’s expansion, strengthen its capabilities in secure cloud services and high-performance computing, and enable Exaion—based in France—to emerge as a European leader in digital infrastructure.