Iron Mountain completes sale of backup, archiving and eDiscovery business to Autonomy
Autonomy has acquired the online backup and recovery, digital archiving and eDiscovery businesses from Iron Mountain.
In a deal worth $380 million (£232 million), part of the sale will see Iron Mountain enter into an agreement with Autonomy to resell certain data backup and archiving solutions recently acquired by Autonomy.
Iron Mountain will retain its software escrow business, which is currently included in its worldwide digital business segment and other technology services such as its digital record centres for images and medical images.
Richard Reese, executive chairman and chief executive officer of Iron Mountain, said: “This transaction is another significant step in delivering on the commitments we made in our three-year strategic plan announced in April and we are very pleased with the outcome of this process.
“This was the right transaction at the right time for our customers, our employees and our shareholders. As we move forward, Iron Mountain will continue to deliver technology services to solve our customers' digital information management challenges through partnerships.”