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Iron Mountain closes acquisition of IO Data Centers US Operations

In a recent press release, Iron Mountain Incorporated® (NYSE: IRM), the global leader in storage and information management services, announced the completion of its acquisition of the U.S. operations of IO Data Centers LLC, a leading colocation data center services provider based in Phoenix, Arizona.

With the transaction, Iron Mountain acquired the land and buildings associated with four state-of-the-art data centers in Phoenix and Scottsdale, Arizona; Edison, New Jersey; and Columbus, Ohio. The existing data center space in the four owned facilities totals 728,000 square feet, providing 62 megawatts (MW) of capacity with expansion potential of an additional 77 MW in Arizona and New Jersey.

The acquisition closes with a customer expansion at the Phoenix data center campus by Cyxtera, a leading provider of secure infrastructure to global enterprises and the U.S. federal government. Cyxtera’s expansion represents the continued demand for service providers in the Phoenix market. They made the selection based on the security, comprehensive compliance support and scalability of the facility, which provided the ideal environment to serve its customer base and support its growth projections.

The total purchase price at closing amounted to $1.34 billion subject to working capital and other customary adjustments and including additional cash consideration related to company performance since the signing of the purchase agreement, including the Cyxtera lease. The additional consideration is a portion of the $60 million cash payable to the sellers based on future performance.

To read the full press release, click here.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is the global leader for storage and information management services. Trusted by more than 230,000 organizations around the world, Iron Mountain boasts a real estate network of more than 85 million square feet across more than 1,400 facilities in more than 50 countries dedicated to protecting and preserving what matters most for its customers. Iron Mountain’s solutions portfolio includes records management, data management, cloud services, document management, data centers, art storage and logistics, and secure shredding to 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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