Iron Mountain Snaps Up Mimosa Systems
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Iron Mountain's steady shopping spree continued this week when it snapped up Mimosa Systems, an e-mail and digital content archiving firm, for $112 million. Enterprise Storage Forum breaks down the deal and explains what it means for the rest of the digital storage industry.
Iron Mountain (NYSE: IRM) is acquiring e-mail and content archiving firm Mimosa Systems for $112 million in cash, adding to the information management giant's growing data archiving business.
Iron Mountain's acquisitions in the data backup, recovery and archiving space have included Connected in 2004, LiveVault in 2005, and eDiscovery firm Stratify in 2007.
The company got its current CEO, Bob Brennan, from Connected, and its digital division president, Ramana Venkata, from Stratify. Iron Mountain said it plans to retain the Mimosa team, which will "become an integral part of Iron Mountain Digital." Mimosa CEO T. M. Ravi will become chief marketing officer for Iron Mountain Digital.
The addition of e-mail, SharePoint and file archiving firm Mimosa gives Iron Mountain an on-premises archiving option to complement its cloud-based archives. The company called itself "a one-stop shop for data capture, archiving and management," giving customers "greater flexibility and choice for managing their information."
Iron Mountain said the deal will also let it "extract intelligence from the information it manages both on-premises and in the cloud."