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Iron Mountain Incorporated (NYSE: IRM) is a global leader in storage and information management services. With a trust base of over 220,000 organizations worldwide, Iron Mountain manages an expansive real estate network that spans more than 80 million square feet across over 1,350 facilities in 45 countries. The company's mission is to safeguard and preserve what matters most to its customers.
Founded in 1951, Iron Mountain has grown to protect billions of information assets, including crucial business documents, electronic data, medical records, and even cultural and historical artifacts. The company’s extensive solutions portfolio includes records management, data management, document management, data centers, art storage and logistics, and secure shredding. These services help organizations reduce storage costs, comply with regulations, recover from disasters, and better utilize their information.
Iron Mountain is structured as a Real Estate Investment Trust (REIT), and a significant portion of its revenue stems from its storage solutions. Additional revenue is generated through value-added services, primarily targeting enterprise clients in developed markets. The company's business is categorized into three main segments: Global RIM Business, Global Data Center Business, and Corporate and Other Business.
Recent achievements and ongoing projects highlight Iron Mountain's commitment to innovation and customer service. The company continues to expand its data center operations, aiming to cater to the growing need for secure and efficient data storage solutions. Partnerships with leading tech firms and continuous upgrades to their infrastructure underscore Iron Mountain's pivotal role in the digital transformation era.
With its consistent focus on security, compliance, and customer satisfaction, Iron Mountain remains a vital entity in the information management industry. For the latest updates and more detailed information about Iron Mountain, visit their official website at www.ironmountain.com.
Iron Mountain has finalized its acquisition of ITRenew, securing 80% of shares for approximately
This strategic move positions Iron Mountain to enhance its Global IT Asset Lifecycle Management and expand its reach in the hyperscale and corporate data center markets. The remaining 20% is priced at a minimum enterprise value of
Iron Mountain has partnered with ClearTrace to enhance its carbon accounting efforts across its U.S. data centers. This collaboration aims to achieve 24/7 renewable energy consumption and provide real-time energy and carbon analysis. Following a successful pilot program, Iron Mountain plans to utilize ClearTrace's technology to effectively monitor and enhance their sustainability efforts. This move aligns them with industry leaders like Google and Microsoft, promoting a new standard in decarbonization strategies.
Iron Mountain (NYSE: IRM) has announced the tax treatment for its 2021 common stock distributions. Key financial figures include a total distribution of $2.474 per share, with ordinary taxable dividends at $1.6542 and qualified taxable dividends at $0.5394. Shareholders who held common stock during the year will receive an IRS Form 1099-DIV for accurate tax reporting. The company emphasizes that tax implications may vary by state and locality and advises shareholders to consult with tax professionals regarding their returns.
Iron Mountain (NYSE: IRM) has appointed Gillian Tiltman as Senior Vice President and Head of Investor Relations, effective immediately. Tiltman will oversee the company's investor relations strategy, engaging with the investment community and shaping Iron Mountain's investment narrative. Chief Financial Officer Barry Hytinen expressed confidence in Tiltman’s capabilities, highlighting her experience as a portfolio manager. Tiltman previously worked for Neuberger Berman and holds a degree from Princeton University, signaling a strong leadership shift aimed at enhancing shareholder value.
Iron Mountain Information Management Services, a subsidiary of Iron Mountain Incorporated (NYSE: IRM), has announced a private placement offering of $750 million in 5.000% Senior Notes due 2032, surpassing the initial target of $500 million. The proceeds will finance the acquisition of ITRenew and cover related costs, along with repaying some revolving credit facility borrowings. The Notes will be guaranteed by the Company and its other subsidiaries, and will not be registered under the Securities Act, limited to qualified institutional buyers and non-U.S. persons.
Iron Mountain (NYSE: IRM) announced a proposed private placement offering of $500 million in Senior Notes due in 2032. The offering will be fully guaranteed and aims to partially fund the acquisition of ITRenew along with related expenses. The exact terms will be determined based on market conditions. Importantly, these notes will not be registered under the Securities Act and will only be offered to qualified institutional buyers and non-U.S. persons. This move aligns with Iron Mountain's strategy to strengthen its position in the storage and information management sector.
ITRenew has signed an agreement for Iron Mountain (NYSE: IRM) to acquire the company, enhancing Iron Mountain's service offerings in IT Asset Disposition (ITAD). ITRenew, a leader in sustainable decommissioning and data security, has seen significant expansion under ZMC’s ownership, including revenue growth and operational improvements. The acquisition aims to leverage Iron Mountain's extensive enterprise customer base to provide broader, sustainable solutions within the hyperscale data center market, aligning with growing environmental goals.
Iron Mountain has announced a definitive agreement to acquire ITRenew, a leader in data center lifecycle management, for approximately
Iron Mountain (NYSE: IRM) announced a significant 20 megawatt multi-year lease with a Fortune 100 client at its VA-2 data center in Manassas, Virginia, commencing in phases from mid-2022 through mid-2023. This new lease increases the facility's capacity from 30 megawatts to 36 megawatts. Year-to-date, Iron Mountain has secured approximately 44 megawatts in new and expansion leases, surpassing its 2021 target of 30 megawatts. The company emphasizes strong demand for its data center solutions and its commitment to partnering with clients.
Iron Mountain (NYSE: IRM) announced that Barry Hytinen, CFO, will participate in a virtual fireside chat at the 5th Annual Virtual Wells Fargo TMT Summit on November 30, 2021, at 4:00 PM ET. Investors can access the live webcast via the Investor Relations section of www.ironmountain.com. Iron Mountain is a leader in storage and information management, providing a range of services including secure records storage and digital transformation, while serving over 225,000 customers globally.
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