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Iron Mountain Opens M&A 'Pipeline'

Iron Mountain, which announced its Q1 results this morning, is continuing on its M&A tear, buying records management vendor ArchivesOne for an undisclosed fee and planning more buys in the coming months. (See Iron Mountain Reports Q1.)

Middlebury, Conn.-based ArchivesOne provides a range of archiving services, including online backup and document destruction. It operates 31 facilities in 10 states.

While Iron Mountain removed the pricetag before showing off its latest, ArchivesOne raised $20 million in debt financing in November, bringing the firm's total funding to $120 million.

The deal is the latest in a string of acquisitions by Iron Mountain. In late 2005, for example, the vendor spent $50 million on online backup specialist LiveVault, which now forms the basis of the vendor's own online offerings. (See Iron Mountain Lands LiveVault and Iron Mountain to Buy LiveVault.)

Other acquisitions include data protection specialist DigiGuard, the Australian and New Zealand operations of service provider Pickfords Records Management, and two Indian services firms. (See Suppliers Snap Up Services, Iron Mountain Buys Aussie SP, Iron Mountain Expands , and Iron Mountain Expands Into India.) In the last few months, the vendor has also picked up Italian records management firm Italiana Archivi and German document management vendor (and Scrabble player's dream) Gesellschaft fur beleglose Dokumentenbearbeitung (GbD).

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