Iron Mountain acquires IO Data Centers’ US operations for $1.3 billion
Summary
With today’s purchase, Iron Mountain gets some serious assets, including four state-of-the-art data centers in Phoenix and Scottsdale, Arizona; Edison, New Jersey; and Columbus, Ohio.Iron Mountain also reported there is room for expansion at the Arizona and New Jersey facilities with the potential for an additional 77 megawatts of capacity.Iron Mountain president and CEO William L. Meaney said purchase is part of a strategy to move beyond its core records management business into the increasingly lucrative co-location facility market.“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 said in a statement.