Storage and information management services company, Iron Mountain Incorporated announced that the company has entered into an agreement to form a joint venture with one of India’s top colocation data center providers, Web Werks. Iron Mountain announced that the company will invest $150 million over the next two years, and anticipates being the majority investor in the venture after the investment period. According to the announcement, the first phase of the transaction is expected to close within the next 3 months subject to customary closing conditions.
Pan-Indian expansion
Web Werks currently operates 3 Tier 3, carrier-neutral data centers, in Mumbai, Pune, and Delhi NCR. The joint venture will allow the company to immediately expand its operations in its three existing markets and subsequently expand into Bangalore, Hyderabad, and Chennai.
Iron Mountain aims to support its existing hyper-scale, network, content, and enterprise customers looking to expand and scale with this investment. With a combined footprint of 225,000 square feet, Web Werks houses 6 worldwide Points of Presence, provides 4 megawatts of capacity, supports 6,000+ servers, and supports 850+ clients. Mark Kidd, Executive Vice President & General Manager, Iron Mountain Data Centers, said,
“This investment reflects Iron Mountain’s commitment to invest in high growth, good return global markets to continue to meet our customers’ requirements. The India data center market is projected to grow rapidly in the coming years and we are excited to be an early mover into a market where the demand is high and the supply is low. Web Werks has a highly respected and seasoned leadership team and we are delighted to not only support their continued growth and success, but also to provide our existing Iron Mountain data center customers access to this growing and thriving market.”
See more Data Center News
