Company continues to deliver on strategy to grow presence in emerging
markets
BOSTON--(BUSINESS WIRE)--
Iron
Mountain Incorporated®, the global leader in storage and information
management services, today announced it has reached an agreement in
principle to acquire the information management operations of Santa Fe
Group A/S, the global leader in international mobility and relocation,
in 10 regions in both Europe and Asia for approximately €27 million
(approximately $30.2 M). Pursuant to a non-binding memorandum of
understanding between the parties, Iron Mountain will acquire Santa Fe’s
information management operations in Spain, India, Hong Kong, Macau,
Indonesia, the Philippines, Singapore, Malaysia, South Korea and Taiwan.
As part of the agreement, Iron Mountain will acquire one facility in
Indonesia and assume the leases for 20 facilities in the other
locations, comprising more than 2.8 M more than 2.3MM cubic feet of
records and 185,000 backup tapes, and serving over 1,500 customers. The
transaction is expected to close later this year.
“Our purchase of Santa Fe’s records management operations in these 10
regions supports our strategy to grow our business in emerging and
international markets through acquisition,” said Marc Duale, President
International for Iron Mountain. “When looking to expand our presence in
these locations, we look to acquire or invest in established local
companies that share our belief that security and trust are the
foundation of excellent service for our customers. We look forward to
continuing that high standard for Santa Fe’s customers while also
helping us to continue to grow in the European and Asian markets to
support our international operations."
Established in 1980, Santa Fe has grown to become the leading global
mobility services company with operations in six continents providing
global, regional or local solutions, including commercial services for
office moving, records management, furniture, fixtures and equipment,
and specialty art and other special project shipping and exhibition
services. The company’s records management offerings include records
storage, data protection, document imaging and digital solutions, and
secure media and document destruction solutions.
“When complete, this transaction also marks our entry into four new
emerging markets – Indonesia, Macau, the Philippines and South Korea –
providing a solid foundation for further expansion in these geographies.
Additionally, records management outsourcing in emerging markets is in
the early stage, which supports attractive, long-term internal growth as
well as our goal to generate 20 percent of Iron Mountain’s total revenue
from emerging markets by the end of 2020,” Duale added.
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’s real estate network comprises 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, helping 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