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BOSTON – Iron Mountain Incorporated® (NYSE: IRM), the global leader in storage and information management services, has completed its acquisition of the U.S. operations of IO Data Centers LLC, a leading colocation data center services provider based in Phoenix, Arizona. With the transaction, Iron Mountain acquired the land and buildings associated with four state-of-the-art data centers in Phoenix and Scottsdale, Arizona; Edison, New Jersey; and Columbus, Ohio. The existing data center space in the four owned facilities totals 728,000 square feet, providing 62 megawatts (MW) of capacity with expansion potential of an additional 77 MW in Arizona and New Jersey.

The acquisition closes with a customer expansion at the Phoenix data center campus by Cyxtera, a leading provider of secure infrastructure to global enterprises and the U.S. federal government. Cyxtera’s expansion represents the continued demand for service providers in the Phoenix market. They made the selection based on the security, comprehensive compliance support and scalability of the facility, which provided the ideal environment to serve its customer base and support its growth projections.


The total purchase price at closing amounted to $1.34 billion subject to working capital and other customary adjustments and including additional cash consideration related to company performance since the signing of the purchase agreement, including the Cyxtera lease. The additional consideration is a portion of the $60 million cash payable to the sellers based on future performance.

Iron Mountain’s IO transaction follows the 2017 acquisition of FORTRUST data center in September and the planned purchase of two data centers in the London and Singapore markets from Credit Suisse announced in October, significantly expanding the company’s presence in the fastest-growing domestic and international data center markets. These transactions will bring Iron Mountain’s total data center portfolio to 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.

“One of the strategic cornerstones of the IO transaction is that it enhances our geographic diversification with expansion capacity in Phoenix, the fourth fastest market for absorption in the U.S. in 2017, as well as New Jersey, another key market serving the New York metro area,” said Mark Kidd, senior vice president and general manager, Iron Mountain Data Centers. “The new leasing activity is an important example of our diverse customer base with growing requirements for colocation capacity. It also highlights the strength of our expanded team of experienced and highly skilled professionals who we welcome to the Iron Mountain family.”

About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) is the global leader for storage and information management services. Trusted by more than 230,000 organizations around the world, Iron Mountain boasts a real estate network of more than 85 million square feet across more than 1,400 facilities in more than 50 countries dedicated to protecting and preserving what matters most for its customers. Iron Mountain’s solutions portfolio includes records management, data management, cloud services, document management, data centers, art storage and logistics, and secure shredding to 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 critical business documents, electronic information, medical data and cultural and historical artifacts. Visit www.ironmountain.com for more information.

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NEW YORK – Ubersmith, an INAP (NASDAQ: INAP) company and a global leader in subscription business management software, today reported another year of progress, including the addition of new customers in 2017 such as Challenger Broadband, Cytranet, Dikaio Design, Element Critical, Evocative, Micro Logic, Micron21, Nodes Direct, ServOnDemand and Voxtell. Demonstrating global demand for Ubersmith’s product, the new customers are based in the U.S., Canada, Brazil, the U.K., United Arab Emirates, China, South Korea and Australia.

Ubersmith is defining a new category called ‘subscription business management’ where customers have a single software suite for billing and related functionality. That is enhanced with Ubersmith’s partner network that delivers complementary payment processing, technologies and services.


“Companies everywhere are looking for ways to transition from traditional billing to recurring billing models that are often based on consumption, and Ubersmith is delivering a product which excels at these types of billing for SaaS companies, service providers and enterprises of all sizes,” said Kurt Daniel, president of Ubersmith. “Now, we’ve got in place new features and an expanded ecosystem of partners with complementary technologies and services that companies anywhere in the world can leverage.”

Product Enhancement
In terms of product development, Ubersmith introduced a hosted version of its software suite so that customers have the convenience of accessing the software without having to install and maintain it on-premises, which reduces their operating costs. This provides customers the option to use either the hosted version or their own version of Ubersmith software on-premises in their data center.

Additional product features added during the year include: an advanced usage-based billing framework; enhanced SureTax integration; self-service trial and installation of Ubersmith’s software suite; an enhanced user interface; and enhanced support for smartphones and tablets. The team also added a new testing partner to complement internal testing of future releases.

Business Expansion
To help better serve its customer base, in 2017 Ubersmith launched its first formal partner program with Authorize.net, Braintree, eBridge Solutions, GlowTouch, R1Soft, Schneider Electric, Thought Engineer, Vantiv, Virtuozzo and Wipro added as new partners.

With additional hires in sales, product marketing and business development to support customers and partners, the company grew and moved to a larger headquarters office in midtown New York City next to Bryant Park.

Ubersmith also participated in industry events, including 451 Research Group’s Hosting & Cloud Transformation Summit, HostingCon, IMN Data Center & Cloud Services Forum and, for the first time, sponsored WHD.global in Germany and Cloud Expo Asia in Singapore.

About Ubersmith
Ubersmith is a global leader in subscription business management software for organizations of all sizes. The company’s suite of usage-based billing, quoting, order management, infrastructure management and help desk ticketing solutions is integrated, open and scalable. Hundreds of companies around the world rely on Ubersmith to better serve their customers, better run their businesses, shorten time-to-market and boost overall efficiency. For more info, please visit https://ubersmith.com.

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HONG KONG – LayerStack, an Infrastructure-as-a-Service (IaaS) provider, today announced an expansion in Japan with the launching of its fourth datacenter in Tokyo. The company, which offers multi-region data center selections with premium global network, has invested huge amount of resources in cloud infrastructure and platform for further cloud developments and enhancing customer experience. Its technologies have enabled great variety of business globally, from start-ups to multinational companies.

Japan as a critical economic hub in APAC region, plays an important role to LayerStack strategical expansion with the additional cloud capabilities. This new data center is expected to widen the “Cloud Coverage” of Japan, Hong Kong, Mainland China, South Korea, Singapore and the U.S. (West Coast) which ensure users enjoying seamless cloud experiences. This also allows users to split critical workloads and data across preferred regions for achieving higher availability.


LayerStack has been steadily increasing its investment in APAC regions including Tokyo, Hong Kong and Singapore to serve its growing base of customers. In the future, LayerStack’s data center footprint will continue to expand around the world.

About LayerStack
LayerStack is an IaaS provider leveraging on hardware and networks to provide stable and high performance cloud solutions launched by Pacificnet Hosting Limited. LayerStack offers cloud solution from Hong Kong and Singapore Datacenters to SME, government, agencies, and major listed companies across Asia Pacific, Europe and the rest of the world.

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SEATTLE – Amazon Web Services, Inc. (AWS), an Amazon.com company (NASDAQ:AMZN), announced the launch of the AWS EU (Paris) Region. With this launch, AWS now provides 49 Availability Zones across 18 technology infrastructure regions globally with another 12 Availability Zones and four regions in Bahrain, Hong Kong SAR, Sweden, and a second AWS GovCloud Region in the US expected to come online by early 2019. The AWS EU (Paris) Region is AWS’s fourth in Europe, joining existing regions in Germany, Ireland, and the UK. Tens of thousands of French customers already use AWS in other regions, and starting today, developers, startups, and enterprises, as well as government, education, and non-profit organizations, can leverage AWS to run applications and store data in France by going to: https://aws.amazon.com/fr/paris/

The AWS EU (Paris) Region offers three Availability Zones. AWS Regions are comprised of Availability Zones, which refer to technology infrastructure in separate and distinct geographic locations with enough distance to significantly reduce the risk of a single event impacting availability, yet near enough for business continuity applications that require rapid failover. Each Availability Zone has independent power, cooling, physical security, and is connected via redundant, ultra-low-latency networks. AWS customers focused on high availability can design their applications to run in multiple Availability Zones to achieve even greater fault tolerance. Additionally, the new AWS EU (Paris) Region gives customers with data sovereignty requirements the ability to store their data in France with the assurance that their content will not move unless they move it. The new Region adds to the existing infrastructure AWS already has in France, which includes three Edge Network Locations in Paris and one in Marseille, for customers looking to deliver websites, applications, and content to end users with low latency. These are part of AWS’s existing network of 107 Points of Presence (96 Edge Locations and 11 Regional Edge Caches) globally.


“For over a decade, AWS has been supporting French builders and entrepreneurs, in enterprises and startups, on their quest to reinvent and evolve their customer’s experiences,” said Andy Jassy, CEO of Amazon Web Services, Inc. “We have tens of thousands of French customers using AWS from regions outside of France, but we’ve heard them loud and clear and are excited to deliver them an AWS Region in France, so they can easily operate their most latency-sensitive workloads or house any data that needs to reside on French soil.”

Politicians and officials, from French central and local government, also welcomed the opening of the AWS EU (Paris) Region. “The establishment of the AWS Region in France reinforces the attractiveness of our country for digital companies, strengthens the trust of French organizations in the cloud, and creates the right conditions for their digital transformation,” said Éric Bothorel, La République En Marche! representative in the French National Assembly and member of the Economic Affairs Commission, with a focus on Digital Affairs. “The digital revolution is bringing about major economic, social, and societal changes and represents a tremendous growth opportunity for the benefit of the French economy as a whole. The cloud is the essential tool to ensure the development of this new economy and the digital transformation of businesses. It is also an important generator of jobs and we are glad to see AWS is a key part of this.”

Valérie Pécresse, President of Ile de France, also welcomed the new AWS infrastructure region saying, “We are delighted that Amazon Web Services is investing heavily in the opening of its datacenters in Île-de-France. It is a recognition of the strength and attractiveness of Ile de France, which is establishing itself as the technical hub of Europe. The region has already become established in the eyes of large companies and startups that have set up their headquarters in the metropolitan area. AWS’s choice to locate their datacenters here will help to attract even more companies and validates our ambition to be the first smart region of Europe.”

One of the reasons customers in France are moving to AWS is the company’s investment in security, compliance, and data protection. All AWS infrastructure regions around the world are designed, built, and regularly audited to meet the most rigorous compliance standards and to provide high levels of security for all AWS customers. These include ISO 27001, ISO 27017, ISO 27018, SOC 1 (Formerly SAS 70), SOC 2 and SOC 3 Security & Availability, PCI DSS Level 1, and many more. This means customers benefit from all the best practices of AWS policies, architecture, and operational processes built to satisfy the needs of even the most security sensitive customers.

AWS is certified under the EU-US Privacy Shield and the AWS Data Processing Addendum (DPA) is GDPR-ready and available now to all AWS customers to help them prepare for May 25, 2018, when the GDPR becomes enforceable. AWS’ DPA terms allow customers to transfer personal data to countries outside the European Economic Area (EEA) in compliance with European Union (EU) data protection laws. AWS also adheres to the Cloud Infrastructure Service Providers in Europe (CISPE) Code of Conduct. The CISPE Code of Conduct helps customers verify that AWS is using appropriate data protection standards to protect their data, consistent with the GDPR. In addition, AWS offers a wide range of services and features to help customers meet the requirements of the GDPR, including services for access controls, monitoring, logging, and encryption.

Customers and APN Partners welcome the new AWS infrastructure Region to France

In France, AWS works with tens of thousands of customers, including more than 80 percent of companies listed on the CAC 40, the French stock market index. Enterprises such as Canal+, Capgemini, Decathlon, Engie, LafargeHolcim, Le Figaro, Les Echos, Mondadori France, Nexity, Schneider Electric, Societe Generale, Soitec, TF1, and Veolia, are now using AWS to speed their time-to-market, lower their costs, and support their businesses globally.

CAC 40 enterprise Schneider Electric is a leader in energy management and automation and is using AWS to support its transition to becoming a digital business. “For the past six years, we have been working with AWS as a key technology provider to support our digital transformation,” said Hervé Coureil, Chief Digital Officer, Schneider Electric. “By migrating our old IT systems to the cloud, we can accelerate our time to market, lower our IT costs, and better support our global business operations. For example, we are building our enterprise big data platform on AWS to give us the ability to centralize data from dozens of critical operational systems. Using AWS enables us to accelerate key decision-making processes and gain meaningful insights from large datasets for our pricing, logistics, human resources, and risk management applications.”

Another CAC 40 enterprise using AWS to support innovation in its business is Societe Generale, one of the largest banks in France and the world. “Societe Generale Group has been working with AWS to accelerate its digital transformation while complying with European and French financial services regulations. Using AWS, we developed SG Research, an application that makes Societe Generale’s analyst reports available to corporate customers allowing them to make better investment decisions,” said Carlos Goncalves, Head of Global Technology Services, Societe Generale. “We welcome the new AWS Region in France as it will help to accelerate the deployment of our hybrid strategy by delivering lower latency between applications running in the cloud and our information systems running in French data centers.”

As well as large, security-conscious enterprise organizations, the public sector in France is also entrusting AWS with mission critical workloads to deliver the highest levels of security and privacy. Public sector organizations using AWS to transform the services they deliver to the citizens of France include Kartable, Les Restos du Coeur, OpenClassrooms, Radio France, Société Nationale des Chemins de fer Français (SNCF), and many others.

SNCF, the French state-owned railway company, chose to build its SNCF mobile application on AWS to give traffic information to the 14 million travelers across its network in real time. “Using AWS, we are able to absorb peaks of hundreds of thousands of users per second on our mobile application. In times of extreme weather, traffic events, holidays, or engineering work, many travelers will connect to the application at once, and AWS gives us the ability to scale to cater to all of our travelers,” said Agnes Chiroux, SNCF Application Project Manager. “The new AWS Region in France is an opportunity for us to speed-up innovation and ensure a good experience for our users. In the future, we expect to develop new predictive features for the SNCF application, using machine learning and big data services in the AWS Region in France, to deliver reliable information to travelers. Using the new AWS Region will enable us to pursue our mission which is to keep travelers informed in real time and always suggest the fastest and easiest way to reach their destination.”

Non-profit organizations are also adopting AWS to innovate and better complete their mission of helping the underprivileged people of France. One example is Les Restos du Coeur, a French charity that provides assistance to the needy, delivering food packages, and participating in their social and economic integration back into French society. Les Restos du Coeur is using AWS for its Customer Relationship Management (CRM) system to track the assistance given to each of its beneficiaries and the impact this is having on their lives. AWS offers Les Restos du Coeur high levels of security, which is essential for managing beneficiaries’ personal data. “We are delighted to learn that Amazon Web Services has opened data centers in France as it now gives us the option to keep the personal data of our beneficiaries in the country as we expand our use of the cloud,” said Patrice Blanc, CEO at Restos du Coeur. “We started our journey to the cloud by building our CRM system on AWS, which is used by thousands of volunteers in more than 2,000 centers. This allows our teams to manage how we serve beneficiaries and their participation in activities to get them back into society, such as resume writing workshops, cooking classes, French lessons, computing courses, and more. Using AWS, we can now deliver personalized support to each of our beneficiaries and this insight is helping us to bring more people out of poverty, get them into work, and further our mission of helping the people of France.”

Some of the most successful startups—as well as established enterprises and public sector organizations—in France are using AWS to build and rapidly expand their businesses across the country, throughout Europe, and around the world. Companies such as 1001 Pharmacies, Botify, CaptainDash, ContentSquare, Drivy, FrontApp, Iconosquare, Invoxia, Ividata, La Ruche Qui dit Oui!, Linxo, ManoMano, Nestor, Peter, Photobox, Predicsis, Pretty Simple, Realytics, Silkke, Slimpay, Softbank Robotics, Teads, Yomoni, and many more have embraced AWS as the infrastructure that is powering their businesses. One well-known example is AlloResto by JustEat, a leader in the French foodtech industry, which is using AWS to scale to cope with peaks in traffic as well as to innovate faster on behalf of its customers. “We are pleased that the new AWS EU (Paris) Region has now opened as it will allow us to store data closer to our thousands of French customers, lower the latency of running our application, and improve the customer experience,” said Noel Ly, International Platform Manager at AlloResto by JustEat. “We are running a foodorder platform that connects clients with participating delivery and takeaway restaurant partners which means our business sees intense spikes of activity for a few hours of the day, at lunchtime and again at dinner. Our website needs to scale up easily, and thanks to AWS, we are able to do this, fulfilling over 10 million orders this year. Using AWS, we estimate we will reduce our IT costs by around 50 percent in the next two years, something that would have been impossible with our previous co-location environment and for a company like us, saving costs is vitally important to the business. With AWS our stability has never been better which allows us to deliver customers a reliable and responsive application, as well as gourmet food.”

Startups in the regulated financial services industry are also using AWS to increase agility while ensuring the highest levels of security for their applications as they grow their businesses. PayPlug is an online credit card payment solution, which enables e-merchants to enrich their customer experience by providing user-friendly mobile payment gateways. “AWS has been key to the success of our business by providing us with a highly secure, compliant, and PCI DSS-certified infrastructure out of the box,” said Camille Tyan, CEO PayPlug. “When we started PayPlug, a service provider told us that we were too small and that it would be far too complicated for us to get PCI DSS certification, but they changed their mind as soon as we told them our data is hosted on AWS, due to the high levels of security and compliance it provides. Since then, in November 2016, we became one of the first FinTech startups operating on AWS to obtain the French Prudential Supervision and Resolution Authority (Autorité de Contrôle Prudentiel et de Résolution – ACPR) payment institution license. Now with AWS infrastructure in France, we look forward to further expanding the long list of financial services certifications and accreditations we have.”

French-based AWS Partner Network (APN) Partners also welcomed the arrival of the AWS EU (Paris) Region. The APN includes tens of thousands of Independent Software Vendors (ISVs) and Systems Integrators (SIs) around the world with APN participation among French based entities growing significantly over the past 12 months. APN Partners build innovative solutions and services on AWS and the APN helps by providing them with business, technical, marketing, and go-to-market support. In France, APN SIs supporting customers as they move to AWS include Premier Consulting Partners such as Accenture, Capgemini, Claranet, CloudReach, DXC, and Edifixio as well as Advanced Consulting Partners such as ABC Systemes, Atos, CoreExpert, Cycloid, D2SI by Devoteam, Linkbynet, Oxalide, Ozones, Scaleo, and Sopra Steria. These Partners are helping enterprise and public sector customers migrate to AWS, deploy mission-critical applications, and provide a full range of monitoring, automation, and management services. APN ISVs including Axway, Commerce Guys, Efront, MicroStrategy, Sage, Software AG, Splunk, Talend, Tibco, and Zerolight are already serving their French customers from AWS Regions around the world, with many also making their software available from the AWS EU (Paris) Region at launch. Customers can also easily find, trial, deploy, and buy software solutions for AWS on the AWS Marketplace.

Capgemini, a CAC40 company and global leader in consulting, technology services, and digital transformation, also welcomed the opening of the new AWS EU (Paris) Region. “We have been working with many regulated companies that want to store their data on French soil and, at the same time, take advantage of AWS, so we are excited about the benefits the new AWS Region in France will bring to our customers,” said Aiman Ezzat, Group Executive Board Member at Capgemini. “As well as French enterprise and public sector organizations, we also see this opening up an opportunity for our many international customers to expand their presence in France and to give their end users low-latency access to their applications in the country. We look forward to working with our customers on the migration of their workloads to this new AWS Region.”

Developers and businesses can access the AWS EU (Paris) Region beginning today. A full list of services is available at https://aws.amazon.com/fr/paris/

About Amazon Web Services
For more than 11 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS offers over 100 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 49 Availability Zones (AZs) across 18 geographic regions in the U.S., Australia, Brazil, Canada, China, France, Germany, India, Ireland, Japan, Korea, Singapore, and the UK. AWS services are trusted by millions of active customers around the world—including the fastest-growing startups, largest enterprises, and leading government agencies—to power their infrastructure, make them more agile, and lower costs. To learn more about AWS, visit https://aws.amazon.com.

About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon.

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REDWOOD CITY, CA – Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today announced that it has entered into an agreement with Ontario Teachers’ Pension Plan to acquire all of the equity interests in the Metronode group of companies, an Australian data center business, in an all-cash transaction for A$1.035 billion, or approximately US$792 million. Metronode is a leading data center provider operating facilities throughout Australia, housing mission-critical internet and communications infrastructure for some of Australia’s largest corporations, government agencies, telecommunications and IT service providers. Metronode generated approximately A$60 million, or approximately US$46 million, of revenues in the 12 months ending September 30, 2017, with a margin profile accretive to the Equinix Asia-Pacific business. The acquisition agreement was signed on December 15, 2017, and the transaction is expected to close in the first half of 2018, subject to some closing conditions including regulatory approval.

The acquisition of Metronode will further strengthen the leadership position of Equinix in the Asia-Pacific region and support its ongoing global expansion. As a result of the transaction, Equinix will expand its national footprint by adding 10 data centers, strengthening its position in Sydney and Melbourne, and adding a presence in Perth, Canberra, Adelaide and Brisbane, four new metros to the Equinix global platform. This will bring the company’s total International Business Exchange™ (IBX®) data center footprint in Australia to 15 data centers, further extending its global ecosystem coverage and enabling customers to deploy their infrastructure, applications and services closer to the edge.


Australia’s robust economy has seen 26 years of uninterrupted economic expansion, and has maintained an average GDP growth rate of 3.3 percent1, the highest rate among developed countries. Digitally enabled innovations are forecast to contribute between A$140–A$250 billion (approximately US$107–US$191 billion) to Australia’s GDP by 20252. The acquisition of Metronode will further extend Platform Equinix™, providing more businesses with the direct and secure connectivity they need as they increasingly shift to digital business models.

The acquisition will complement the growth strategy of Equinix in Australia by adding two data centers in Melbourne, three in greater Sydney (including one in Illawarra), two in Perth, and one in each of Canberra, Adelaide and Brisbane. The acquired Metronode sites add approximately 20,000 square meters of gross colocation space to the Equinix footprint.

Metronode adds more than 80,000 square meters of land, 90 percent of which is owned, to the global portfolio of Equinix. Several of the acquired assets provide Equinix with the opportunity to build additional capacity and capture benefits of scale over time.

The acquisition will also enable Equinix to provide diverse second campus locations in its existing Sydney and Melbourne metros, providing customers with network-rich redundant options in these markets. In addition, these new campuses are hyperscale ready, enabling Equinix to support requirements from high-growth global cloud service providers.

Metronode’s Perth site on the west coast of Australia will house the landing station for the new Vocus Australia Singapore Cable. When combined with the existing submarine cable deployments in Sydney, Equinix will be positioned as a leading provider of access to intercontinental connectivity across the combined national footprint.

According to the Global Interconnection Index, Interconnection is becoming an essential building block of the digital economy. In Asia-Pacific, the Interconnection Bandwidth of the Government & Education sector is expected to see a compound annual growth rate (CAGR) of 69 percent from 2016 to 2020. The enhanced national footprint of Equinix in Australia creates an opportunity to expand on Metronode’s relationships with government agencies across the Australian market, including supporting the New South Wales Government with the provision of capacity in two data centers for the GovDC program.

Upon close, the acquisition will bring the total Asia-Pacific coverage of Equinix to 40 data centers, and will extend its global footprint to 200 data centers in 52 markets, providing customers with even more ways to securely deploy, directly connect and effectively scale their digital infrastructure with Platform Equinix.

J.P. Morgan served as the financial advisor of Equinix, and Allen & Overy acted as the external legal advisor of Equinix in connection with this transaction. Ontario Teachers’ Pension Plan was advised by UBS and RBC Capital Markets.

About Equinix
Equinix, Inc. (Nasdaq: EQIX) connects the world’s leading businesses to their customers, employees and partners inside the most interconnected data centers. In 48 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies. Equinix.com.

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BOSTON – Iron Mountain Incorporated (NYSE: IRM), the global leader in storage and information management services, today announced it has entered into a definitive agreement to acquire the U.S. operations of IO Data Centers LLC, a leading colocation data center services provider based in Phoenix, Arizona, for $1.315 billion plus up to $60 million based on future performance and subject to customary adjustments. With the transaction, 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. The existing data center space in the four owned facilities totals 728,000 square feet, providing 62 megawatts (MW) of capacity with expansion potential of an additional 77 MW in Arizona and New Jersey.

This agreement follows the acquisition of FORTRUST data center on September 1, 2017 and the announcement of Iron Mountain’s international data center expansion through the planned acquisition of two Credit Suisse data centers in the London and Singapore markets. Upon closing of the Credit Suisse and IO transactions in early 2018, 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 L. Meaney.

“This transformative transaction is closely aligned with our strategy and we expect it to accelerate our growth profile by bringing our data center business to approximately 7% of total revenue and approximately 10% of Adjusted EBITDA by 2020 – significantly exceeding our initial goal – while enhancing business diversity and the margin profile of the company,” Meaney added. “We believe we can add significant value to IO’s U.S. operations by leveraging our strong brand that is synonymous with security and trust, and our relationships with more than 30,000 North American data management customers.

“The addition of IO’s data centers enhances our geographic diversification and provides market-leading exposure to Phoenix, the fourth fastest market for absorption in the U.S. in 2017, and the 12th largest data center market globally. Colocation and cloud providers have made significant investments in Phoenix in the past few years, as it boasts diverse energy sources and relatively inexpensive green power, as well as an attractive business environment,” said Mark Kidd, Senior Vice President and General Manager, Iron Mountain Data Centers. “Importantly, this transaction also enhances our ability to support the needs of the largest cloud providers through new development with expansion capacity in Phoenix as well as New Jersey, another attractive market due to its proximity to the New York metro area.”

“Additionally, IO brings a diversified roster of more than 550 customers that includes blue chip financial services, aerospace, federal government and technology companies among its Top 10, with no single customer representing more than 10% of total revenue. Its strong enterprise and cloud customer base is complementary to that of our existing data center business, and more than 40% of IO’s customers are also customers in our core records and data management businesses,” Kidd said.

“I am incredibly proud of the team at IO and the extraordinary company they have built since our founding in 2007,” said George D. Slessman, founder and CEO of IO. “We are pleased to enter into an agreement with Iron Mountain and excited by the potential this transaction represents. Iron Mountain’s deep customer relationships, global scale and excellent access to capital markets, combined with IO’s strong presence in the high-growth data center industry will provide attractive opportunities for our employees and a broader, more geographically diverse platform of facilities and services for our customers. We know Iron Mountain shares our commitment to the highest levels of customer service, security and operational quality, and we are confident our customers will be in good hands.”

The transaction is anticipated to close in January 2018, subject to satisfaction of customary closing conditions. The total consideration of $1.315 billion, which does not include up to $60 million of potential additional payments, represents a multiple of 15x synergized 2018 EBITDA, post integration. While data center acquisitions of this magnitude were not part of the company’s previously disclosed 2020 plan, the company expects the transaction to accelerate its revenue and Adjusted EBITDA growth. Following this transaction and anticipated financing, the company remains on track to reduce its lease adjusted 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%, all of which are consistent with its 2020 plan.

The acquisition is expected to be modestly accretive to AFFO in 2019. The company will provide specifics of the impact of the transaction on 2018 full-year expectations when it provides guidance for next year on its fourth quarter/year-end reporting conference call in February 2018.

About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM) is the global leader for storage and information management services. Trusted by more than 230,000 organizations around the world, Iron Mountain boasts a real estate network of more than 85 million square feet across more than 1,400 facilities in 53 countries dedicated to protecting and preserving what matters most for its customers. Iron Mountain’s solutions portfolio includes records management, data management, cloud services, document management, data centers, art storage and logistics, and secure shredding to 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 critical business documents, electronic information, medical data and cultural and historical artifacts. Visit www.ironmountain.com for more information.

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