Iron Mountain Expands Operations in China with Acquisition of Records Management Firm
Boston – Feb. 14, 2014 Storage and information management company Iron Mountain® Incorporated (NYSE: IRM) announced today it acquired Chinese records management firm Databox last December, expanding its operations into eight cities, including Shanghai, Beijing, Guangzhou and Hong Kong. With the acquisition, Iron Mountain welcomes the customers and employees of Databox, along with seven new storage facilities. Financial terms of the deal were undisclosed.
“Databox is recognized across China as a leader in records management, offering customers secure storage and services for managing their information,” said Peter Hwang, managing director, Greater China for Iron Mountain. “We welcome those customers to Iron Mountain and will continue to provide them with the same level of expertise and service they’ve come to expect.”
Established in 2003, Databox is a leading records management company, with operations across China in Shanghai, Beijing, Guangzhou, Shenzhen, Chengdu and Chongqing. Databox offers a range of document management services with a focus on records management, courier services, secure shredding, document management and scanning, and offsite tape backup.
“The acquisition of Databox represents an important milestone in our global business strategy for growing our presence in emerging markets like China,” said Marc Duale, president, international for Iron Mountain. “In these markets, we acquire or partner with local storage companies to expand our market leadership, enhance returns and capture the initial wave of records outsourcing. And our expanding international network delivers two key benefits, bringing us new business from locally-based customers and deepening our relationships with those multinational accounts looking to realize the security and efficiency benefits that come with consolidating their records with one storage partner.”
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 36 countries allows it to serve customers around the world. And its solutions for records management, data management, 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.