I didn't see this one the other day, but there's been some more interesting M&A in the data center space this week. Iron Mountain has made another deal, agreeing to acquire IO Data Centers' US operations.
Iron Mountain will be paying $1.315B plus another $60M that depends on future performance targets and other adjustments. For that price they will be getting IO's four data centers: the original one in Scottsdale, Arizona, its larger and newer cousin in nearby Phoenix, the big modular facility in Edison, New Jersey, and the youngest of the four in Columbus, Ohio. In all, the facilities span some 728,000 square feet with power capacity of 62MW and another 77MW of expansion potential.
Along with the purchase of FORTRUST's data center over the summer and two of Credit Suisse's facilities in London and Singapore, Iron Mountain expects to see its data center business rise to about 7% of revenue and 10% of adjusted EBITDA by 2020.