Iron Mountain acquires GRM China as part of continuing expansion strategy
The data centre operator and storage and information management services firm says it is making a big play in the Asian market, as it seeks to better serve both local and multinational companies in the region.
Iron Mountain (NYSE: IRM) has acquired GRM’s Chinese operations, significantly expanding the company’s presence in the country. The acquisition of GRM China will expand Iron Mountain’s presence in Beijing, Shanghai, Guangdong, Qingdao, Dalian, Chengdu and Wuhan.
The increased presence includes 2.5m cubic feet of storage space, and adds 550 customers and 170 employees to Iron Mountain’s payroll.
“The opportunity to add this level of operational and storage capacity and customer relationships, along with a talented team, represents an important milestone for our Chinese business,” said Peter Hwang, managing director, Iron Mountain Asia. “GRM China’s history as a pioneer of the records and information management industry, and as one of the first government-licensed providers in the Peoples Republic of China, carries a great deal of significance.”
GRM China delivers document storage, media storage, document imaging, secure destruction and information management consulting services to both large multinationals and local companies, in industries including insurance, banking and finance, manufacturing, accounting, consulting, engineering, technology and professional services.
“The acquisition of GRM China advances our strategy for expanding Iron Mountain’s presence in faster growing Asian markets like China,” said Ernest Cloutier, executive vice president and general manager, international for Iron Mountain. “In Asia we see a growing opportunity for records and information management outsourcing.”