Iron Mountain climbs over compliance ridge
Iron Mountain climbs over compliance ridge
Oct 14th, 2004: Iron Mountain has bought Connected Corporation in a bid to help protect its customers' through the implementation of compliant information management and new archiving and recovery services.
It has bought Connected for US$117 million in cash and aims to manage and protect business records and information in all formats and locations in the current climate of fear over regulations, corporate governance and security.
Richard Reese, the chairman and CEO of Iron Mountain said: "Bringing Connected into the Iron Mountain family is reflective of Iron Mountain's long-term strategy 'to go where our customers need us to be' in the archiving and data protection market.
"Traditionally, that has meant increasing the company's geographic footprint for our physical records management and off-site data protection businesses. Today, that means helping customers manage and protect all of their information - both physical and digital - regardless of format or location.
Reese says that this is a logical step for Iron Mountain because it means that their new combination will ensure better information protection, access, availability and compliance.
Steve Duplessie, the founder and senior analyst at Enterprise Strategy Group, Inc., added: "What a smart move. Connected, with its millions of user licenses, married to the king of all records management players, is a boon for both companies.
"It opens up an explosive new market opportunity for Iron Mountain and lets Connected walk into doors that it never would have been able to open as a stand-alone player. Iron Mountain continues to be one consistently impressive deal-maker."
The Connected ArchiveStore/EM software for email archiving will also compliment Iron Mountain's Digital Archives, a service created for managing multiple types of information assets, including email, statements and digital images.
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