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Iron Mountain Lands LiveVault

In a move that validates the growing popularity of online backup services, Iron Mountain today announced plans to finalize the purchase of LiveVault within the next few days. (See Iron Mountain to Buy LiveVault.)

But it remains to be seen just how the move will play out for IT pros in small- to medium-sized businesses who seek these kinds of services.

Iron Mountain will shell out $42 million for the remaining 86 percent of of LiveVault it doesn't already own. The total value of the deal is about $50 million, officials say.

Iron Mountain dominates the market for manual records management and archiving -- via tape, vaults, trucks, and shredders. But the growing vulnerability of off-site archiving, which has given Iron Mountain unwanted publicity in recent months, plus the increasingly lucrative market for online services like LiveVault's, has the company focused on going more digital. (See Iron Mountain Keeps Truckin' and Iron Mountain Gets Connected.)

"This acquisition is about growing a tremendous opportunity," says John Clancy, executive VP of Iron Mountain's digital services unit.

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