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BOSTON – Iron Mountain Incorporated (NYSE: IRM), the storage and information management services company, has acquired EvoSwitch Netherlands B.V and EvoSwitch Global Services B.V. (“EvoSwitch NL”) for €205 ($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.

Founded in 2007, EvoSwitch NL is a leading global brand and provider of multi-tenant data center space, operating one of the largest colocation facilities centers in the Metropolitan Region Amsterdam (MRA). Its existing campus supports more than 50 connectivity and telecommunication providers, including world-leading internet exchanges, such as the Amsterdam Internet Exchange AMS-IX. The MRA is a critical node in the FLAP data center market (Frankfurt, London, Amsterdam, Paris), which totaled approximately 1160 MW at the end of 2017. The MRA experienced net absorption of more than 21 MW of space in the fourth quarter of 2017, making it the second largest data center market in Europe and a Top 5 global market. This transaction enhances Iron Mountain’s presence in the important FLAP market, following Iron Mountain’s move into London early this year through the purchase of a data center facility from Credit Suisse.

The MRA region also boasts the lowest average energy prices and the most reliable energy grid among FLAP markets. EvoSwitch NL has focused on sustainable operations since its founding and had the first 100% carbon neutral data center facility in the Netherlands using wind, hydro and biomass power, consistent with Iron Mountain’s commitment to offsetting 100% of its data center carbon footprint.

EvoSwitch NL has a diversified base of global customers including multinational enterprises, cloud service providers and public sector institutions. Leaseweb Netherlands B.V., (“Leaseweb NL”), a related party of the seller and a large cloud hosting company with operations in 35 countries, represents approximately 45% of EvoSwitch NL’s contracted revenue under a 10-year lease agreement, making it one of Iron Mountain Data Centers’ Top 5 customers. No other customer represents more than 15 percent of total revenue.

The EvoSwitch NL data center acquisition includes two locations in the MRA. The first is a state-of-the-art facility totaling 150,000 square feet of space with 87,000 square feet of existing data halls, representing approximately 11 MW of existing power capacity. Expansion of a further 2 MW is underway at this location, with 600 kilowatts preleased to Leaseweb NL. This location is expandable to a total of 430,000 square feet of space that can support additional data halls totaling 14 MW, bringing the first location to 27 MW of total potential capacity.

The second location is a site that can support a 57,000 square-foot facility including 41,000 square feet of data hall development. Expansion capacity at this site can support a further 7 MW, bringing total potential capacity for the two locations to 34 MW.

“We are pleased to welcome the EvoSwitch team and its customers to Iron Mountain. The seasoned management team has operated in the data center business for more than 11 years and delivered consistent growth,” said Mark Kidd, senior vice president and general manager, Iron Mountain Data Centers. “EvoSwitch NL’s focus on security, energy efficiency and its solid track record of continuous uptime is a great fit with our existing data center organization. When combined with current and potential capacity in Iron Mountain’s existing data center portfolio, our total portfolio now represents more than 285 MW across many of the most attractive and highest net absorption markets in the U.S. and globally.

“Having established our significant international data center platform through both recent transactions and organic growth, we look forward to continued integration of the business, and our near-term growth will be primarily from the development of new space in the attractive global markets where we have a presence,” Kidd added.

Eric Boonstra, chief executive officer, EvoSwitch said, “We look forward to combining our EvoSwitch NL business with that of Iron Mountain Data Centers, which shares our commitment to customer service and operational excellence. This transaction represents an opportunity for us to extend relationships with our existing customers by providing data center expansion capacity in important continental European markets, and the potential to provide capacity in the important Amsterdam region to Iron Mountain’s legacy data center customer base.”

Leaseweb founder and CEO Con Zwinkels added, “We share Eric’s enthusiasm for this acquisition of EvoSwitch NL. As a global cloud hosting company serving more than 17,500 customers worldwide, it is important for us to accommodate their growing needs. Through this transaction, Leaseweb has improved access to a broad portfolio that includes Iron Mountain’s data centers around the globe. We are pleased to be partnering with a company that has such a strong reputation for security and reliability.”

Transaction Economics

The consideration of €205 ($235) million, represents a multiple of approximately 14x 2018 EBITDA, excluding integration expense. 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.

Iron Mountain projects a stabilized net operating income yield of 12% – 13% following build-out and lease-up of the expansion capacity at the EvoSwitch NL locations. The existing EvoSwitch NL capacity is expected to generate annualized revenue of approximately $30 million at mid-50% Adjusted EBITDA margins. 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.

While the EvoSwitch NL acquisition was not part of Iron Mountain’s previously disclosed 2020 plan, the transaction supports the company’s goal to accelerate Revenue and Adjusted EBITDA growth through a shift in mix to faster-growing, higher-margin businesses. The transaction is debt financed. The company remains on track to reduce its lease-adjusted leverage ratio to the mid-5x range by year-end 2018, and is committed to its 2020 plan to reduce its leverage ratio to approximately 5x, and lower its dividend payout as a percentage of Adjusted Funds From Operations to 70% – 75%, assuming annual dividend per share growth of approximately 4%.

About EvoSwitch NL
EvoSwitch NL was founded in 2007 as part of the Ocom Group (www.ocom.com), Europe’s largest privately owned internet services company, and the first carbon and carrier-neutral data center in the Netherlands. Since then it has grown continuously, reflecting the growth of the Internet in general and its customers in particular. Following through on its carrier-neutral proposition, it has also built up a diverse ecosystem of telecommunications carriers and network service providers that help customers connect cost-effectively and with confidence. Following the sale of EvoSwitch NL, the selling entity, EvoSwitch International B.V. will remain part of the Ocom Group and will continue as a brand and data center operator, with operating companies EvoSwitch Germany GMBH and EvoSwitch USA, Inc.

About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include information management, digital transformation, secure storage, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a more digital way of working. Visit www.ironmountain.com for more information.

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The CloudFest India 2018 that was held in Mumbai, India on May 23rd comprised jampacked sessions and informative keynotes that ensured that the day was full of knowledge and innumerable networking exchanges. There were talks on domains; net neutrality; tips to help hosting providers become cloud solutions providers; and internet market opportunities for startups and SMBs, just to name a few. India, with 4.9 million registered domains (as of Q4 2016) and 51 million SMBs represents a huge market for the internet industry. The Chief Product Officer at GoDaddy – Steven Aldrich, opened the keynotes for the day, throwing light on how independent ventures are growing in India, and how they will drive global employment. Later, an interesting session on net neutrality was taken by Tim Wu – American lawyer and professor at Columbia Law School with Seoren von Varchmin – CEO, Cloudfest as the moderator. Tim discussed about the state of IT in the context of India market. Vice-President – Naming…
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HasGeek hosted 400+ developers, architects, managers and security experts at Rootconf 2018, which concluded on 10-11 May 2018. The two-day conference, held at NIMHANS Convention Centre, had over 35 sessions consisting of talks, Birds Of Feather (BOF) sessions and hallway conversations around IT infrastructure and security. Open source developer from Bangladesh, A. S. M. Shamim Reza, and network engineer from Bhutan Telecom, Alisha Gurung, spoke about security protocols and how to secure systems better. Former VSNL engineer, Derick Thomas, elaborated on the importance of network security for startups and the need for better data protection at the network layer level. Chief evangelist from Percona, Colin Charles, talked about database security at the enterprise level, followed by a captivating session on enterprise security by Pukhraj Singh. Pukhraj explained the geopolitics of cyberspace and how this impacts the choice of security tools for companies and nation-states. Rachna Khaira,…
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LAS VEGAS and RENO, Nev. – Switch (NYSE: SWCH), the technology infrastructure corporation that is powering the future of the connected world®, today announced that an international streaming media corporation has signed a 15 MW colocation deal. The streaming corporation plans to use Switch’s North American PRIME data centers as a worldwide distribution hub for its services. The company plans to go live at Switch’s facilities in Nevada in July of this year.

“We are really excited to have another international technology powerhouse join the Switch ecosystem,” said Chris Donnelly, chief connectivity officer for Switch. “We look forward not only to fulfilling this company’s ultra high-density data center needs but also its global connectivity demands through Switch CONNECT®, the world’s only hyperscale telecom auditing and purchasing cooperative.”


The international streaming client will be able to take advantage of Nevada’s data center tax abatements, Switch’s 100% renewable energy, its substantial connectivity gateways, and access to international cable landing stations via the Switch CORE® InterExchange.

In addition to this streaming company, Switch added a new high security government client at its Core Campus in Las Vegas. At The Pyramid Campus in Grand Rapids, MI, Switch added a large electric utility company and a global consumer goods manufacturer, which filled the remaining available cabinets in the second sector of the Switch PYRAMID.

Total contract value of these new sales exceeds $100 million in new incremental revenue.

ABOUT Switch
Switch (NYSE: SWCH), the technology infrastructure corporation headquartered in Las Vegas, Nevada is built on the intelligent and sustainable growth of the internet. Switch founder and CEO Rob Roy has developed more than 500 issued and pending patent claims covering data center designs that have manifested into the company’s world-renowned data centers and technology solution ecosystems. The Switch PRIMES located in Las Vegas and Tahoe Reno, Nevada; Grand Rapids, Michigan; and Atlanta, Georgia are the world’s highest-rated hyperscale data center campus ecosystems with low latency to major U.S. markets. The Switch PRIMES are located in the most cost-effective area of each North American zone based on power, connectivity, taxes, cost of living and lower risk of natural disasters. Visit switch.com for more information.

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ST. LOUIS – TierPoint, a leading provider of secure, connected data center and cloud solutions at the edge of the internet, today announced an agreement with Zayo Group Holdings, Inc. (NYSE: ZAYO) to offer Zayo’s CloudLink solutions.

CloudLink provides dedicated, high-performance bandwidth options, enabling secure connectivity directly to the world’s largest public cloud providers and other data centers. Selected TierPoint data centers will offer an on-ramp to Zayo’s extensive fiber network, which includes more than 11.5 million fiber miles globally.


“Responding to our clients’ evolving, multi-dimensional needs, this agreement is a significant step toward expanding the menu of connectivity options for our data centers and cloud pods, as we continue enhancing our market-leading, edge-infrastructure solutions,” said TierPoint Chief Technology Officer Terry Morrison.

Initially, TierPoint will offer CloudLink in 22 data centers in 12 markets, including Baltimore, Boston, Charlotte, Chicago, Dallas, eastern Pennsylvania, Kansas City, Nashville, New York, Seattle, Spokane, and Tulsa. TierPoint plans to expand the service to additional data centers in the coming months. CloudLink provides dedicated, high-performance bandwidth options, enabling secure connectivity directly to major public cloud providers. Customers can choose traditional, aggregated bandwidth or FlexConnect, Zayo’s usage-based Ethernet.

“We look forward to working with TierPoint to accelerate the value they are delivering to their clients,” said Tyler Coates, Enterprise Segment lead for Zayo. “Dedicated, high-capacity bandwidth is a vital element to hybrid cloud solutions. At Zayo, we are proud to provide a range of options that enable TierPoint clients to get their data to the cloud quickly, safely and consistently.”

About TierPoint
With a unique combination of secure, connected data center and cloud solutions at the edge of the internet, TierPoint (tierpoint.com) specializes in meeting enterprises where they are on their journey to IT transformation. TierPoint has one of the largest customer bases in the industry, with 5,000 clients ranging from the public to private sectors, from small businesses to Fortune 500 enterprises. TierPoint also has one of the largest and most geographically diversified footprints in the nation, with over 40 world-class data centers in 20 markets and 8 multi-tenant cloud pods, connected by a coast-to-coast network. Led by a proven management team, TierPoint’s highly experienced IT professionals offer a comprehensive solution portfolio of private, multitenant, hyperscale, and hybrid cloud, plus colocation, disaster recovery, security, and other managed IT services.

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Overland Park, KS – Responding to increasing demand for hybrid IT solutions, QTS Realty Trust (NYSE: QTS), a leading provider of software-defined and mega-scale data center solutions, today announced it has deployed its CloudRampTM solution with the IBM Cloud Direct Link service.

The hybrid data center solution features prebuilt, preconfigured colocation integrated with IBM Cloud Direct Link. The solution features flexible terms and can be purchased directly through IBM. QTS CloudRampTM leverages QTS’ Service Delivery Platform (SDP) to enable customers to view and manage their hybrid colocation environments in real-time. This software-defined service delivery approach increases visibility while reducing deployment time and puts control into the hands of the customer.


“We are pleased to partner with IBM to further enable the delivery of hybrid colocation solutions to their cloud customers,” said Jon Greaves, Chief Technology Officer – QTS. “QTS’ Service Delivery Platform provides IBM Cloud Direct Link customers the ability to dynamically manage and accelerate the deployment of their diverse hybrid IT infrastructure environments.”

QTS introduced CloudRampTM through its strategic collaboration with AWS in 2017. The initial response from the introduction of CloudRampTM remains strong with customer take-up of smaller cabinet-sized colocation footprints in each of the four initial markets of deployment. CloudRampTM was designed as a turnkey solution for cloud providers to bridge the gap between traditional IT and the cloud, while minimizing the risk of their customers’ journey to the cloud. QTS’ innovative SDP serves as the foundation of CloudRampTM, enabling automated access to cloud solutions through world-class platforms.

QTS is also pleased to be launching its strategic partnership with IBM with an initial customer order. QTS CloudRampTM, through IBM Cloud Direct Link, was selected to minimize risk to the customer’s hybrid IT journey. The customer required a highly secure and cloud-like colocation solution to host its latency-sensitive applications. QTS CloudRampTM allowed the customer to seamlessly integrate its colocation requirements with its existing IBM Cloud workload.

QTS CloudRampTM via IBM Cloud Direct Link is initially available from the QTS’ Irving, TX data center.

About QTS
QTS Realty Trust, Inc. (NYSE: QTS) is a leading provider of data center solutions across a diverse footprint spanning more than 6 million square feet of owned mega scale data center space throughout North America. Through its software-defined technology platform, QTS is able to deliver secure, compliant infrastructure solutions, robust connectivity and premium customer service to leading hyperscale technology companies, enterprises, and government entities. Visit QTS at www.qtsdatacenters.com, call toll-free 877.QTS.DATA or follow on Twitter @DataCenters_QTS.

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