Iron Mountain Acquires GRM's China Operations, Significantly Expanding Presence in China
SHANGHAI, Oct. 8, 2018 /PRNewswire/ -- Iron Mountain Incorporated (NYSE: IRM)®, the global leader in storage and information management services, today announced the acquisition of GRM's Chinese operations, significantly expanding the company's presence and market leading position in the country. The acquisition of GRM China will expand Iron Mountain's presence in Beijing, Shanghai, Guangdong, Qingdao, Dalian, Chengdu and Wuhan (including over 2.5 million cubic feet of storage); 550 customers; and add 170 employees to its Chinese operations.
"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. Adding facilities, employees and operational assets at this scale gives us the opportunity to strengthen our presence, continuing to deliver the high levels of service that their customers expect for their records and information management needs."
GRM China is a division of GRM Document Management, and was the first licensed provider of Records and Information Management services in the Peoples Republic of China. The company, which opened its first branch in Shanghai in 2003, 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. We seek to capitalize on this opportunity, in part, by acquiring leading local providers that share our commitment to best-in-class service delivery, trust and security. This enables us to support our local, regional and global customers; enhance returns as we integrate these companies into our regional business; and ensure we are poised to make the most of the global trend of information management outsourcing."
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include information management, digital transformation, secure storage, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a more digital way of working. Visit www.ironmountain.com for more information.
Iron Mountain Incorporated
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