Press release from Business Wire
Iron Mountain Acquires Records Storage Firm in Brazil
<p class='bwalignc'> <i>Company follows strategy to expand leadership in emerging markets through acquisition</i> </p>
Monday, June 24, 2013
Iron Mountain Acquires Records Storage Firm in Brazil08:32 EDT Monday, June 24, 2013
BOSTON (Business Wire) -- Storage and information management company Iron Mountain® Incorporated (NYSE: IRM) has acquired Brazilian document storage firm Archivum, growing its presence in Sao Paulo and nearby suburbs. With the acquisition, Iron Mountain adds more than 700 customers and now assumes responsibility for managing their records, including approximately 1.3 million boxes of hardcopy documents. Terms of the deal were undisclosed.
“Archivum is a strong, family-owned business that succeeded by delivering trusted and dependable service to organizations in and around Sao Paulo,” said Luiz Alves, Iron Mountain's country manager. “We welcome their customers and will continue to provide them with secure storage, attentive service and expert advice.”
Founded in November 1994, Archivum provides customers with a range of solutions for storing, accessing and managing their information. These include storage options for both hardcopy records and magnetic tape cartridges; scanning solutions for digitizing paper files; and secure destruction of information.
“The acquisition of Archivum aligns with our objective for growing our presence in emerging markets like Brazil,” said William Meaney, president and CEO of Iron Mountain. “In these markets, we acquire local storage companies to expand our market leadership, enhance returns and capture the initial wave of records outsourcing. Overall, our expanding international network not only brings us new business from locally-based customers, it deepens our relationships with North American-based multinational accounts, who more frequently are consolidating their records with one storage partner.”
Archivum is the company's second acquisition in Brazil over the last 14 months, having acquired information management company Grupo Store in April 2012. Iron Mountain has invested approximately $60 million year to date acquiring records storage companies in both North America and international markets.
About Iron Mountain Incorporated
Iron Mountain Incorporated (NYSE: IRM) is a leading provider of storage and information management services. The company's real estate network of over 64 million square feet across more than 1,000 facilities in 35 countries allows it to serve customers around the world. And its solutions for records management, data backup and recovery, document management, and secure shredding help organizations to lower storage costs, comply with regulations, recover from disaster, and better use their information . Founded in 1951, Iron Mountain stores and protects billions of information assets, including business documents, backup tapes, electronic files and medical data. Visit www.ironmountain.com for more information.
Dan O?Neill, 617-535-2966
Katie Traut, 617-520-7135