Welcome to our dedicated page for Iron Mountain news (Ticker: IRM), a resource for investors and traders seeking the latest updates and insights on Iron Mountain stock.
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 announced the construction of a new 27 megawatt data center in Slough, London, marking an expansion of its data center footprint. This facility will be powered entirely by renewable energy and is designed to meet high standards of environmental sustainability. The data center will feature carrier-neutral connectivity, supporting diverse enterprise needs. Additionally, Iron Mountain expanded the LON-1 data center by adding 4 megawatts of capacity, bringing its total to 9.1 megawatts. These developments aim to cater to the rising demand for secure, scalable colocation services in the European market.
Iron Mountain (NYSE: IRM), a leader in storage and information management, has announced its participation in two upcoming investor conferences. Barry Hytinen, EVP & CFO, will present at the Berenberg USA Conference on May 19 at 1:00 PM ET. Mark Kidd, EVP & GM of Iron Mountain Data Centers, will present at the RBC Capital Markets Conference on May 25 at 8:00 AM ET. Both presentations will be accessible via webcast on the company’s Investor Relations page, with replays available for a limited time.
Iron Mountain (NYSE: IRM) has announced the sale of its Intellectual Property Management (IPM) business to NCC Group for gross proceeds of $220 million, netting approximately $165 million after taxes and fees. The divestiture aligns with Iron Mountain's strategy to focus on core strengths and invest in new growth areas, including data center development. For the year ending December 31, 2020, IPM generated revenue of $33 million and Adjusted EBITDA of $22 million. The transaction is expected to close in early June 2021, subject to NCC shareholder approval.
Iron Mountain (NYSE: IRM) reported strong Q1 2021 results, achieving a record quarterly revenue of $1.08 billion, up 1.2% YoY. Despite a 4.8% decline in service revenue, organic growth in new areas offset losses. Adjusted EBITDA rose 4% to $380.6 million, with a 100 basis point margin expansion, benefitting from Project Summit initiatives. However, net income fell 28% to $46.6 million due to restructuring charges. The company also increased its 2021 financial guidance, projecting total revenue between $4.365 - $4.515 billion.
Iron Mountain (NYSE: IRM) has finalized a joint venture with Web Werks, a leading Indian colocation data center provider, with plans to invest $150 million over two years. The partnership aims to enhance Iron Mountain's data center capabilities in India, tapping into a market with 560 million internet users. Web Werks will expand its footprint to 325,000 square feet and offer 16.5 MW of capacity. This step positions Iron Mountain to capitalize on India's growing demand for digital infrastructure.
Iron Mountain announced the signing of two leases with a major U.S. technology company at its AZP-2 data center in Phoenix, Arizona. The first lease is for a one megawatt expansion, commencing in Q3 2021, while the second lease is for five megawatts, expected to start in Q4 2021. AZP-2 offers 100% renewable energy and is designed for flexibility, with total IT capacity projected at 48 megawatts at full build-out. The Phoenix campus is expected to support over 100 megawatts of IT load, enhancing Iron Mountain's data center offerings in a low-risk area for natural disasters.
Iron Mountain (NYSE: IRM) will announce its first quarter 2021 financial results on May 6, 2021, prior to market opening. A conference call is scheduled for the same day at 8:30 A.M. ET to discuss the results. Investors can access the earnings release and related materials at approximately 6:00 A.M. ET on the company’s investor website. Pre-registration is encouraged for those wishing to join the call. Iron Mountain, founded in 1951, is a leader in storage and information management services, managing nearly 93 million square feet across 1,450 facilities in 56 countries.
Iron Mountain (NYSE: IRM) has partnered with RPD Energy and Direct Energy to enhance renewable energy purchasing solutions. This collaboration aims to track the hourly renewable energy load of Iron Mountain's data centers across Pennsylvania and New Jersey, sourcing 100% renewable energy. The initiative represents a shift from traditional models that match renewable power on a monthly or annual basis, positioning Iron Mountain at the forefront of innovative energy solutions.
Iron Mountain, a leader in storage and information management services, announced CEO William Meaney will present at Citi’s 2021 Virtual Global Property CEO Conference on March 8, 2021, at 9:45 am ET. A live webcast will be available on Iron Mountain's Investor Relations website, with a replay accessible until March 8, 2022. The company, founded in 1951, serves over 225,000 organizations globally, managing nearly 93 million square feet across 1,450 facilities in 56 countries. It provides critical solutions like secure records storage, digital transformation, and data centers.
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