BOSTON--(BUSINESS WIRE)--
Iron
Mountain Incorporated (NYSE: IRM), the storage and information
management services company, reports that the United Kingdom’s
Competition and Markets Authority (CMA) completed its Phase 2 Review of
Iron Mountain’s acquisition of Recall Holdings Limited. The CMA has
cleared the acquisition of all of Recall’s facilities and operations in
the UK except for C21 Data Services Ltd (C21), which operates in
Aberdeen and Dundee areas of Scotland and must be divested. The
purchaser of C21 is subject to approval by the CMA and the C21 business
will be operated pursuant to Iron Mountain’s “hold separate” commitments
until the divestiture is complete. C21 generated approximately $5.0
million in revenue for the year ended December 31, 2015. Aside from the
CMA’s eventual approval of the purchaser of C21, this decision marks the
completion of the final review in the UK required in connection with the
Recall acquisition.
Further details regarding the CMA’s final review and approval can be
found by clicking HERE.
Iron Mountain completed its acquisition of Recall, primarily as a stock
transaction for approximately US$2 billion, on May 2, 2016. Iron
Mountain acquired the entirety of Recall’s global operations, including
all facilities, vehicles, employees and customer assets and excluding
operations to be divested in accordance with regulatory agreements in
the United States, Canada and the UK. Iron Mountain will divest its
Australian business other than its data management business throughout
Australia and its records and information management and data management
businesses in the Northern Territory.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) is the global leader for storage
and information management services. Trusted by more than 220,000
organizations around the world, Iron Mountain boasts a real estate
network of more than 80 million square feet across more than 1,350
facilities in 45 countries dedicated to protecting and preserving what
matters most for its customers. Iron Mountain’s solutions portfolio
includes records
management, data
management, document
management, data
centers, art
storage and logistics, and secure
shredding help organizations to lower storage costs, comply with
regulations, recover from disaster, and better use their information.
Founded in 1951, Iron Mountain stores and protects billions of
information assets, including critical business documents, electronic
information, medical data and cultural and historical artifacts. Visit www.ironmountain.com
for more information.
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Source: Iron Mountain