Iron Mountain Data Centers Expands EMEA Footprint

Rhea-AI Summary

Iron Mountain (NYSE: IRM) has announced the acquisition of XData Properties in Madrid, Spain, significantly enhancing its data center footprint. This facility will eventually support up to 79 megawatts of energy, aligning with the increasing demand for data center services in Europe. The initial 3 megawatt data center is operational, with plans for a 20 megawatt extension by 2024. The acquisition strategically positions Iron Mountain within a growing market, emphasizing renewable energy and customer connectivity.

Positive

• Acquisition expands data center footprint in Madrid, supporting growth in Europe.
• Facility has capacity to develop 79 megawatts, addressing high demand for data services.
• Madrid is a strategic location with access to major internet exchanges and infrastructure.
• Facility aligns with sustainability goals due to Spain's renewable energy leadership.

Negative

• None.

Acquisition of XData Properties in Madrid, Spain

BOSTON--(BUSINESS WIRE)-- Iron Mountain (NYSE: IRM), the global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services, has expanded their data center footprint through the acquisition of XData Properties, one of the largest data center parks in Madrid. The property has enough power secured to eventually develop 79 megawatts in the coming years. In addition to the existing three megawatt data center on site, the first 20 megawatt data center is planned with a 2024 completion date.

“The acquisition of XData enables us to meet the growing demand for connected, compliant and sustainable data center services across Europe and we are thrilled to be expanding our EMEA footprint,” said Eric Boonstra, Vice President and General Manager of Iron Mountain Data Centers EMEA. “Madrid is emerging as a strategic and growing market, and this campus enables us to welcome both enterprise and hyperscale customers.”

Madrid is a strategic and rapidly growing market with high demand across segments due to the direct access to the Madrid-Barcelona fiber optic route, the largest fiber highway in the Iberian Peninsula. This acquisition enables Iron Mountain Data Centers to support a robust ecosystem where cloud, network, service providers and consumers can seamlessly connect with each other.

“This acquisition supports our strategy and commitment to selectively expand into emerging data center markets in order to meet our customers' critical demand needs,” stated Mark Kidd, Executive Vice President and General Manager of Data Centers at Iron Mountain. “We are also pleased that Spain is quickly becoming one of Europe’s leaders in renewable energy generation, which we will leverage to support our and our customers’ sustainability goals.”

HIGHLIGHTS / KEY FACTS

• Iron Mountain Data Center’s campus is one of Madrid’s largest data center parks and is in close proximity to major internet exchanges. The region has a high demand for hyperscale cloud requirements with numerous entities announcing plans to develop a Spanish cloud region. The newly acquired campus is centrally located within hyperscale availability zones and is in an ideal position for built-to-suit deployments.
• The data center campus is located in San Fernando (“Corredor del Henares”), an emerging industrial area in close proximity to main communication networks (A2, M-50) for the city of Madrid resulting in reduced latency. A 10 minute drive from Barajas Airport, the campus is connected by public transport to downtown Madrid.
• As the capital of Spain and a key city in Europe, Madrid is forecasted to become one of the largest European data center markets.
• The Madrid Data Center will provide both local Spanish and global operating businesses with the interconnected infrastructure they require backed by Iron Mountain Data Center’s industry leading compliance and sustainability programs.
• Spain is quickly emerging as one of Europe’s leaders in renewable energy generation, supporting our and our customers’ sustainability goals.

With this acquisition, Iron Mountain Data Centers global footprint now has 20+ sites across 19 markets in 3 continents.

About Iron Mountain 
Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER™ to transform their businesses. Through a range of services including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction, and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals. To learn more about Iron Mountain, please visit: www.IronMountain.com and follow @IronMountain on Twitter and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221117005226/en/

Media Contact

Marti Zehr-Breedlove

Iron Mountain Global Communications

media@ironmountain.com

Source: Iron Mountain Incorporated

FAQ

What is the significance of Iron Mountain's acquisition of XData Properties?

The acquisition expands Iron Mountain's data center presence in Madrid, addressing the growing demand for data center services in Europe.

How much capacity will the new data center in Madrid have?

The new data center will have a total capacity of 79 megawatts upon completion.

When is the new 20 megawatt data center in Madrid expected to be completed?

The new 20 megawatt data center is planned for completion in 2024.

Why is Madrid considered a strategic market for Iron Mountain?

Madrid is considered strategic due to its access to significant internet exchanges and a growing demand for hyperscale cloud services.

How does this acquisition support Iron Mountain's sustainability goals?

The acquisition takes advantage of Spain's emergence as a leader in renewable energy, helping Iron Mountain meet sustainability objectives.