American information management services provider Iron Mountain is all set to buy U.S data center business of IO Data Centers for USD 1.3 billion. With this acquisition, Iron Mountain will capture four state-of-the-art data centers located at Colombus, Ohio, New Jersey and Arizona.
According to industry experts, this move comes as no surprise since Iron Mountain have been silently growing in the data center arena right from the beginning of this year. This move has come right after Iron Mountain bought two Credit Suisse data centers in London and Singapore from their American neighbors Fortrust in September this year.
Iron Mountain said that recent acquisitions including this one are a strategy to move from their core business of record management to a more lucrative co-location facility business. Laying emphasis on the deal, William L. Meaney, President, and CEO at Iron Mountain said:
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.
Iron Mountain said that the transaction is estimated to close next month and the deal could include USD 60 million as additional payments.