Iron Mountain To Buy U.S. Operations Of IO Data Centers For $1.3 Bln

(RTTNews) - Iron Mountain Inc. (IRM), Monday said it has agreed to buy the U.S. operations of IO Data Centers LLC for $1.315 billion plus up to $60 million based on future performance.

Iron Mountain will acquire the land and buildings associated with four state-of-the-art data centers in Phoenix and Scottsdale, Arizona; Edison, New Jersey; and Columbus, Ohio.

Iron Mountain's data center portfolio will total more than 90 MW of existing capacity, with an additional 26 MW of capacity currently under construction and planned and future expansion potential of another 135 MW.

"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," said Iron Mountain President and CEO William Meaney.