Aiming to further increase presence in India, US-based storage management firm Iron Mountain today announced the acquisition of home-bred OEC Records Management.
The acquisition of OEC Records Management is the third biggest acquisition made by Iron Mountain in the country after successful takeover of NAX and Safehouse, and the records and tape management business of ITCL in 2013.
OEC provides records management, imaging services and offsite storage of media in India. The acquisition will add 16 facilities across 10 locations, and a storage volume of four million cubic feet to Iron Mountain.
Iron Mountain now offers a network of 73 facilities in 15 locations in India -- including Mumbai, Delhi, Chennai, Bengaluru, Kolkata, Hyderabad, Pune, Ahmedabad, all acting as their major centres.
“The acquisition of OEC aligns with our stated objective for growing our presence in emerging markets like India, to support our regional, national and global customers; enhance returns as we integrate OEC into our regional business; and ensure we are well-positioned to capitalize on the global trend of information management outsourcing,” said William Meaney, President and CEO of Iron Mountain.
Iron Mountain has been present in India since 2006 providing a range of services like Record Management & Storage, Document imaging and management, Data management and secure destruction.
“OEC is one of the leading providers in India, with a strong reputation for service that dates back to 1929. With this acquisition, Iron Mountain reiterates its commitment to India market and reinforces its leadership position in the country,” added Hitesh Gupta, Managing Director, Iron Mountain, India.