Iron Mountain Acquires Mimosa Systems For $112 Million

Iron Mountain, which specialises in records management and data backup services, has acquired archiving solutions vendor Mimosa Systems in a $112 million deal, which is aimed at enhancing its cloud-based archiving product portfolio. 

According to a statement released by Iron Mountain, the company plans to integrate Mimosa's on-premise archiving software NearPoint, which offers the ability to archive Microsoft Exchange e-mail, SharePoint data and unstructured files, with its existing SaaS (software as a service) archiving product thereby enhancing its cloud-based archiving product services. 

Commenting on the acquisition deal, an Iron Mountain spokesperson said in a statement that “The ability to archive and manage data both onsite, inside the customer’s firewall, and remotely in the cloud makes Iron Mountain a one-stop shop for data capture, archiving, and management. It also provides the company’s customers with greater flexibility.” 

According to a blog post announcing the acquisition, the current employees of Mimosa Systems will keep working for Iron Mountain after the acquisition is completed and the CEO of Mimosa, T.M. Ravi, will be working with Iron Mountain as the Chief Marketing Officer in Iron Mountain's digital division. 

Several industry analysts are of the opinion that Iron Mountain is aggressively looking to enhance its digital business lines ever since Bob Brennan joined the company as the CEO.