Iron Mountain has agree to acquire two Credit Suisse data centers in London and Singapore for approximately $100 million. As part of the transaction, Credit Suisse will enter into a long-term lease with Iron Mountain to maintain their existing data center operations. The two facilities combined add 273,000 square feet and over 14 megawatts (MW) of capacity (including future expansion) to Iron Mountain’s growing portfolio – of which 4.2MW is leased to Credit Suisse. The London data center is 120,000 total square feet and located in the Slough Trading Estate, while the Singapore data center is 153,000 total square feet located in Serangoon.
The deal represents the first international expansion of Iron Mountain’s data center business.
Iron Mountain plans to fund the purchase with proceeds from a new share issua.
- In September, Iron Mountain acquired the FORTRUST data center business.
- Also in September, Iron Mountain opened the first of four planned data centers at a new, 83-acre campus in Northern Virginia. The first is a Tier III, 165,000 square-foot, 10.5-megawatt multi-tenant and cloud facility located in Prince William County. The company invested over $80 million in the first phase of this data center and expects to invest $350 million to bring the full campus to completion. The first phase opens with more than half of its first phase capacity pre-leased, including customers like Virtustream, a Dell Technologies business.
- Northern Virginia is Iron Mountain’s fifth U.S. data centre market. Additional locations include Boston, Denver, Kansas City and Western Pennsylvania.