Network Computing is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Iron Mountain Buys E-Discovery Firm

Iron Mountain will shell out $158 million in cash to buy e-discovery company Stratify Inc. by the end of the year, if shareholders and regulators approve.

Iron Mountain announced the deal as part of its third-quarter earnings report this morning. It has had a partnership with Stratify since January 2007, and execs say the relationship fared well among enterprise customers from the start.

"Customers have been asking us for this... It's a white-hot market, by all accounts a billion-dollar market... We're seeing estimates between $4 billion and $12 billion in the next few years," said Iron Mountain president and COO Bob Brennan during today's earnings conference call.

The Stratify purchase will continue Iron Mountain's acknowledged plan to build its services roster through acquisition. Indeed, the buy will bring to $500 million the total Iron Mountain has spent on acquisitions so far this year.

Other buys include ArchivesOne, a records management company in Connecticut, and RMS Services, a Boston-based records management firm that specializes in converting paper files to digital format for hospitals. Both of those acquisitions, along with some smaller companies acquired this year, cost Iron Mountain $340 million.

  • 1