Iron Mountain Completes Acquisition of Recall
Acquisition strengthens global footprint, opens up new markets and enhances service delivery
Iron Mountain Incorporated (NYSE: IRM) today announced the completion of its acquisition of Recall Holdings Limited as a primarily stock transaction for approximately $2 billion (US). With the acquisition, Iron Mountain acquires the entirety of Recall’s global operations, including all facilities, vehicles, employees and customer assets and excluding operations to be divested in accordance with regulatory agreements in the United States, Canada and Australia; the acquisition of the Recall business in the UK remains subject to regulatory review. Additionally, Iron Mountain appointed Recall directors Neil Chatfield and Wendy Murdock to its Board of Directors, who are included among director nominees standing for election at the company’s upcoming Annual Meeting of Stockholders on June 17, 2016.
Increasing regulations, ongoing security threats, and the need to turn data into business value has elevated both the complexity and priority of managing information and assets. From business records to data to valuable items like art, the stakes have never been higher for organizations of all sizes to ensure their most critical assets are protected while able to be accessed immediately. They require a partner located where they are with the right combination of trust and security to protect what matters most, while also providing expertise and product and services designed to get the most out of those assets. And they need to be sure that as their business matures and changes, their partner can scale with them – supporting their growth across geographies and into new industries.
“Today marks an important milestone for Iron Mountain, and we welcome our new colleagues from Recall as well as their customers and shareholders into our company,” said William L. Meaney, president and CEO of Iron Mountain. “This acquisition significantly boosts our vision to serve as the trusted guardians of our customers’ most important assets, as it expands both our services and footprint for better assisting them with their storage and information management needs. That trust is a cornerstone of our business, whether it’s securing the strategic value of information and assets or continuing to develop innovative products and services that give customers improved access, control and value from those assets. We’re now strongly positioned to deliver on our strategic and financial goals, drawing on the combined capabilities and expertise of both companies to ensure a superior customer experience across the globe.”