Iron Mountain acquires Endless to extend footprint to Middle East
Iron Mountain Incorporated (NYSE: IRM) has acquired a controlling stake in Endless Document Storage Services LLC.
The acquisition is in line with Iron Mountain’s strategy to expand its presence in fast-growing international markets by investing in well-established local or regional businesses that can provide similar services and have a similar business ethos.
The move into the Middle East means that Iron Mountain now operates in 46 countries spread across six continents and establishes a local base of operations for Iron Mountain’s existing global customers in Dubai, the Gulf Cooperation Council and the Middle East, as well as bringing Iron Mountain’s services to new customers in the region.
Founded in 1951, Iron Mountain stores and protects billions of information assets for its more than 230,000 customers, including critical business documents, electronic information, medical data, and cultural and historical artefacts.
It helps organisations to lower their storage costs and free up valuable real estate, keep up to date and comply with regulatory requirements, and mitigate the risks associated with storing and managing information in all formats.
Its solutions portfolio includes records management, data management, digital document management, data centres, art storage and logistics, and secure destruction.
Newly acquired local partner Endless Document Storage Services LLC is one of the leaders in information storage and management services in the UAE and the wider region.
It serves a broad customer base of multinational and local businesses with a portfolio of services that include physical and digital archiving, back-up tape rotation, shredding and consultancy.
These existing customers will benefit from Iron Mountain’s category leadership and vision in secure storage and information management, as well as the company’s global commitment to quality service and innovative solutions for reducing information-related costs and risks.
Endless Document Storage Services LLC has four storage facilities in the region, which will add 40,000 square feet of storage space to Iron Mountain’s impressive real estate network of more than 85 million square feet across more than 1,400 facilities.
Speaking at a customer forum in Dubai, Iron Mountain’s President and CEO William L. Meaney said, “When entering new markets, we look to acquire leading local providers like Endless Document Storage Services, who share our passion for helping customers to better use their information, while lowering their costs and risks of storing and managing it.
“Both regional and multinational businesses across the Middle East are increasingly outsourcing the storage and management of their information as a means to lower their operating costs; transition to a digital records workplace; and ensure they can respond in the event of litigation or a regulatory audit.
“We are delighted to enter this region with Endless Document Storage, combining their market familiarity and high standard for customer service with our global scale and solutions portfolio.”
Speaking at the same customer forum in Dubai, George Harfouch, Founder and CEO of Endless Document Storage Services LLC said, “We welcome this association with Iron Mountain. It is good news for our customers and good news for the region. We can bring our existing customers an even better experience as we draw on Iron Mountain’s expertise gained over more than sixty five years. Iron Mountain is the category leader in information storage and management and as such brings a wealth of knowledge that will help customers in the region manage their valuable and sensitive information assets.
“It is an important time for the region, with various markets across the Middle East maturing fast and, as a consequence, the amount of information that businesses need to store and manage is growing quickly. We are better placed than ever to meet the growing demand for our services.”