Iron Mountain to Divest Intellectual Property Management Business
May 13, 2021 at 02:00 am EDT
Share
Iron Mountain Incorporated signed an agreement to sell its Intellectual Property Management (“IPM”) business to NCC Group (“NCC”), a publicly listed software escrow and cyber security company, located in the UK. All of the assets associated with IPM will be sold to NCC for gross proceeds of $220 million, or approximately $165 million, net of taxes and fees, subject to adjustments. The divestiture of the IPM business aligns with Iron Mountain’s strategy to focus on its core strengths and invest in innovative new products, services and solutions to better position the company for future growth. The transaction is expected to close in early June 2021, subject to customary closing conditions, including the approval of NCC’s shareholders.
Iron Mountain Inc is engaged in a physical ecosystem supporting information storage and retrieval for businesses which rely on paper documents or computer tapes to store their valuable information. The Companyâs segments include Global Records and Information Management (Global RIM) Business and Global Data Center Business. The Global RIM Business segment includes various offerings, including records management, data management, global digital solutions, secure shredding, secure shredding, and consumer storage. The Global Data Center Business segment provides data center facilities and the capacity to protect mission-critical assets and ensure the continued operation of its customersâ information technology (IT) infrastructure with data center options. The Company also offers IT asset disposition customer solutions. It serves industries, such as commercial, legal, financial, healthcare, insurance, life sciences, energy, business services, entertainment and government organizations.
IRON MOUNTAIN INCORPORATED 
