Iron Mountain To Sell Intellectual Property Management Business To NCC Group

Iron Mountain Inc. (IRM), a storage and information management services provider agreed to sell its Intellectual Property Management or IPM business to UK-based NCC Group (NCC.L), a software escrow and cyber security company, for $220 million.

The deal is expected to close in early June this year.

Barry Hytinen, chief financial officer of Iron Mountain said, "
The transaction is consistent with our capital allocation strategy. It will 
represent another source of capital to fund our strategic growth areas, 
including our data center development pipeline."

For its IPM business, Iron Mountain had registered revenue of $33 million and adjusted EBITDA of $22 million for the year ended December 31, 2020.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Nestle USA Inc., affiliated to Swiss food and beverage giant Nestle SA, is recalling around 27,872 pounds of frozen DiGiorno Crispy Pan Crust pepperoni pizza citing misbranding and undeclared soy protein, a known allergen, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. Eli Lilly and Co. is recalling one lot of GLUCAGON Emergency Kit for low blood sugar to the consumer/user level citing loss of potency, the U.S. Food and Drug Administration announced. The recall involves lot D239382D with expiration date of April 2022 of Glucagon Emergency Kit containing 1mg of freeze-dried (lyophilized) product in a 3 mL vial and a pre-filled diluent syringe. Twitter has rolled out the tipping feature called "Tips" for everyone around the globe using the microblogging site with more payment options to choose from, including cryptocurrencies such as Bitcoin. This is a new way for people to receive and show support on Twitter with money. The feature is currently available on iOS and will be available on Android over the coming weeks.
Follow RTT