Iron Mountain To Acquire IO Data Centers US Operations For $1.3 Billion

Iron Mountain (NYSE: IRM) announced its plans to acquire IO Data Center US Operations for $1.3 Billion, which may increase by up to $60 Million for additional payments by an anticipated closing of January, 2018. The acquisition includes approximately 728,000 square feet of data centers in four markets including Phoenix and Scottsdale, Arizona; Edison, New Jersey and Columbus, Ohio. The data centers have a total of 68 MWs of capacity with a stated 77 MWs of expansion capacity.

Iron Mountain, historically a physical documents storage and management company, has broadened its business into data centers over the past several years. In addition to the planned IO Data Centers acquisition, Iron Mountain acquired Fortrust data centers in August of 2017 and plans on acquiring two Credit Suisse data centers in London and Singapore in 2018.