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Iron Mountain acquires IO Data Centers US operations for $1.three billion

Iron Mountain introduced as of late that it’s obtaining the US information middle belongings of IO Data Centers for a fab $1.three billion — and the fee tag may doubtlessly move upper

With as of late’s acquire, Iron Mountain will get some severe belongings together with 4 state of the art information facilities in Phoenix and Scottsdale, Arizona, Edison, New Jersey and Columbus, Ohio. The 4 constructions in general surround 728,000 sq. toes of information middle actual property with 68 megawatts of capability. Iron Mountain additionally reported there may be room for enlargement at the Arizona and New Jersey amenities with the possible for an extra 77 megawatts of capability.

Iron Mountain, which has most commonly been identified for virtual and bodily data control, together with storing and shredding of bodily paperwork, has been quietly increasing its trade this 12 months to incorporate bodily information facilities. In reality, as of late’s information follows the purchase of the Fortrust information middle in September and the prior to now introduced acquisition of 2 Credit Suisse information facilities in London and Singapore, which might be anticipated to near subsequent 12 months.

Iron Mountain president and CEO William L. Meaney mentioned acquire is a part of a option to transfer past its core data control trade into the an increasing number of profitable co-location facility marketplace. Instead of the usage of a public cloud carrier, an organization may hire out area in a co-location facility and run devoted servers within the facility. The development proprietor supplies cooling, energy, bandwidth, bodily safety and general control of the development.

“We continue to experience strong demand and growth in our data center business with a focus on establishing a presence in the largest global markets for colocation and enterprise customers. Our strategy includes organic expansion within our existing footprint, greenfield development in the largest U.S. markets such as our newly opened campus in Northern Virginia, and targeted acquisitions of properties with customer profiles that closely mirror our own,” he mentioned in a commentary.

The transaction is anticipated to near subsequent month and may doubtlessly come with as much as $60 million of attainable further bills, in keeping with the corporate.

Featured Image: Smith Collection/Gado/Getty Images

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