Iron Mountain Announces Completion of FileSafe Acquisition.BOSTON--(BUSINESS WIRE)--Oct. 7, 1997-- Also Announces Acquisition of Allegiance Business Archives and Records Management Systems, Inc. Iron Mountain Incorporated Iron Mountain Inc is a company specializing in data storage. The best known Iron Mountain storage facility is a high-security storage facility in a former limestone mine located near Butler, Pennsylvania in the USA in operation since 1950. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :IMTN IMTN Iron Mountain Inc (stock symbol) ) announced today the completion of the previously announced acquisition of Records Retention/FileSafe, L.P.("FileSafe"). FileSafe is a major regional provider of records storage and management services in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay with an additional operation in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . Total consideration was approximately $45 million in cash and assumed liabilities for assets, including real estate valued at approximately $8 million. The acquisition of FileSafe effectively doubles the size of Iron Mountain's operations in the San Francisco Bay Area. Iron Mountain Chairman and Chief Executive Officer C. Richard Reese commented on the close: "We are very enthusiastic about acquiring FileSafe as it affords excellent operating synergies with our existing operations in our Northwest Region. We welcome FileSafe's employees and customers to the Iron Mountain family." Separately, Iron Mountain announced today that it has acquired Allegiance Business Archives, Ltd. and Records Management Services, Inc. (RMS). Allegiance operates two records centers serving the Metropolitan New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of market, and RMS operates three records centers serving Syracuse, New York
Syracuse (IPA: , which is a new market for Iron Mountain. Iron Mountain paid approximately $14 million for the two companies. Iron Mountain operates in 43 markets nationwide, providing business records storage and management services, medical records services, data protection services for electronic records, vital records protection and records management consulting services. The Company stores and manages billions of paper documents and electronic records for more than 41,000 customers, including more than half of the Fortune 500 companies. CONTACT: Iron Mountain Judith R. Brackley Director of Corporate Communications (617) 357-4455 ext. 208 judith_brackley@ironmountain.com |
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