Wednesday, 20 June 2018 07:05 AM
LONDON, UK / ACCESSWIRE / June 20, 2018 / If you want access to our free research report on Iron Mountain Inc. (NYSE: IRM), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=IRM as the Company’s latest news hit the wire. On June 18, 2018, the Company announced that it has inked a deal to acquire Arhiv Trezor, a Croatia-based provider of records management, secure destruction, and secure transportation. The financial details of the transaction remained undisclosed. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Iron Mountain most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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The acquisition of Arhiv Trezor, based in Zagreb, Croatia, gives Iron Mountain its first facility in the country.
Acquisition is an Important Step in Iron Mountain’s Efforts to Grow its Presence within Southeastern Europe
Andras Szakonyi, Senior Vice President, Northern and Eastern Europe and India, Iron Mountain, stated that the acquisition of Arhiv Trezor is an important step in the Company’s efforts to grow its presence within Southeastern Europe. The opportunity to enter the market by acquiring a Company with such a solid reputation and important customer base made Arhiv Trezor an attractive option for Iron Mountain. Szakonyi further added that since Croatia is a member of the European Union, its economic and cultural connections to other Central and Southeastern European markets are very strong, allowing Iron Mountain the opportunity to leverage its global scale to help local, regional, and multinational customers with their records and information management needs.
Acquisition of Arhiv Trezor Fits Iron Mountain’s Strategy of Seeking Established Local Providers that Share the Commitment to Service Delivery
Commenting on the acquisition, Ernest Cloutier, Executive Vice President and General Manager, International for Iron Mountain, stated that acquiring a known market leader like Arhiv Trezor fits the Company’s strategy of seeking established local providers that share the commitment to service delivery, trust, and security in markets with strong growth trends in information management outsourcing. Cloutier added that this entry into the Croatian market enables Iron Mountain to capitalize on the growing records and information management opportunity and support existing and new customers with its scale and diverse solutions to meet these kinds of increasingly complex information management challenges.
Iron Mountain’s Recent Acquisition Deal
On May 30, 2018, the Company acquired EvoSwitch Netherlands B.V. and EvoSwitch Global Services B.V. (“EvoSwitch NL”), which is a leading global brand and provider of multi-tenant data center space, for approximately €205 million ($235 million). The transaction provided 11 megawatts (MW) of data center capacity in the Netherlands, which was 100% leased, with an expansion capability of an additional 23 MW, for a total potential capacity of 34 MW.
About Arhiv Trezor
Established in 2002, Arhiv Trezor is the recognized country leader in records management and storage, digitization, secure information destruction, and secure transportation. The Company is also the first private archive in Croatia to receive the Accreditation of the Croatian State Archives, and achieved ISO 9001:2015 Certification for records and business documentation archiving in Europe.
About Iron Mountain Inc.
Founded in 1951, and headquartered in Boston, Massachusetts, Iron Mountain is the global leader for storage and information management services. Trusted by more than 220,000 organizations around the world, Iron Mountain boasts a real estate network of more than 80 million square feet across more than 1,350 facilities in 45 countries, dedicated to protecting and preserving what matters most for its customers.
Stock Performance Snapshot
June 19, 2018 - At Tuesday’s closing bell, Iron Mountain’s stock advanced 1.35%, ending the trading session at $33.83.
Volume traded for the day: 2.37 million shares, which was above the 3-month average volume of 1.55 million shares.
Stock performance in the last month – up 5.46%; and previous three-month period – up 6.62%
After yesterday’s close, Iron Mountain’s market cap was at $9.68 billion.
Price to Earnings (P/E) ratio was at 53.28.
The stock has a dividend yield of 6.95%.
The stock is part of the Technology sector, categorized under the Business Software & Services industry.
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