Iron Mountain Buys Dutch EvoSwitch Data Center Business For $235 Mln

(RTTNews) - Iron Mountain Inc. (IRM) said that it has acquired EvoSwitch Netherlands B.V and EvoSwitch Global Services B.V. for 205 million euros or $235 million. The transaction provides 11 megawatts (MW) of existing data center capacity in the Netherlands, which is 100% leased, with expansion capability of an additional 23 MW, for total potential capacity of 34 MW.

The purchase agreement also includes a future revenue credit to Leaseweb, in the amount of $25 million, which may be utilized for future expansion and new leasing in any of Iron Mountain Data Centers' other global locations prior to June 2028, subject to other terms.

Including integration costs, Iron Mountain expects the transaction to result in modest AFFO dilution of approximately 0.5% in 2018, and for the acquisition to be accretive in 2019 following integration.