Autonomy Grabs Iron Mountain Digital Assets
Autonomy is acquiring pieces of Iron Mountain's digital division including its archiving, eDiscovery and online backup offerings, the company announced this week.
The deal is valued at $380 million in cash, Autonomy said. The acquisition of Iron Mountain's assets will extend Autonomy's own information governance business.
"Processing customer data in the cloud continues to be a strategic part of Autonomy's information governance business," said Mike Lynch, Group CEO of Autonomy, in a statement. "We look forward to extending regulatory compliance, legal discovery and analytics to a host of new customers as well as enabling the intelligent collection and processing of non-regulatory data from distributed servers, PCs and especially tens of millions of mobile devices."
The acquisition of the Iron Mountain digital asset adds more than 6 petabytes of data under management and more than 6,000 customers to Autonomy. That will bring Autonomy's private cloud data to more than 25 petabytes with a total customer base exceeding 25,000, the company said. Some other points, according to Autonomy's announcement:
- Assets acquired include digital archiving, eDiscovery and online backup and recovery solutions of Iron Mountain Digital, but not the technology escrow service and a medical records archive service and other smaller operations which were recently shut down.
- Active Iron Mountain Digital customers will continue to be supported without disruption.
- Autonomy to offer Connected, the digital data protection product, to existing Autonomy customers across enterprise server, PC and mobile devices. The addition of this product drives non-regulatory and structured data into our cloud-based information processing platform.
The deal is pending regulatory clearance and other closing conditions. Autonomy predicts the deal will close within 60 days.
Posted by Jeffrey Schwartz on May 18, 2011 at 11:58 AM