Iron Mountain establishes presence in Greece via Joint Venture with SafeDoc
London - 16 July 2007 - Iron Mountain Incorporated (NYSE: IRM), the global leader in information protection and storage services, has established its first presence in the Greek market with the acquisition of a minority interest in SafeDoc, an Athens-based records and information management company. The company will operate as a joint venture with Iron Mountain holding options to acquire further shares in the company over the next five years. Iron Mountain has options to acquire further shares in the company.
The joint venture establishes Iron Mountain's presence in the economically thriving Greek market which represents an important strategic market as Iron Mountain expands its services across Europe to cater to the needs of its global clients. With the expansion to Greece, Iron Mountain now operates in 36 countries across five continents. SafeDoc has been operating in Greece since 2002 and runs a state of the art records center in the Aspropirgos area of Athens.
“SafeDoc has a customer-centric business philosophy, which makes it an excellent match for Iron Mountain. As the industry leader in Greece, SafeDoc offers excellent services according to international industry standards,” said Edward D. Prittie, Senior Vice President for Iron Mountain Europe. “We are very pleased with this partnership and we believe that our extensive industry experience and strong global customer base gives us an edge to accelerate growth in this important region.”
Costas Stamboulopoulos, SafeDoc's Managing Director, noted that this venture marks the entry into a new era of entrepreneurial activities for the company. “Our collaboration with Iron Mountain will allow us to further enhance our records management expertise, and enable us to offer an even wider range of sophisticated records and information management products and services, to a larger number of customers.”
SafeDoc's existing services include registration and indexing of records; document retention consulting; document storage; document retrieval and delivery on request; confidential data destruction services; and tape vaulting. Its customers include banks, insurance companies, hospitals and public sector organizations.
About Iron Mountain:
Iron Mountain Europe is a subsidiary of Iron Mountain Incorporated (NYSE:IRM), the global leader in information protection and storage services. Iron Mountain Europe services 56 markets within 18 countries across Europe. For further information, visit: http://www.ironmountain.co.uk
Iron Mountain helps organizations around the world reduce the costs and risks associated with information protection and storage. The company offers comprehensive records management and data protection solutions, along with the expertise and experience to address complex information challenges such as rising storage costs, litigation, regulatory compliance and disaster recovery. Founded in 1951, Iron Mountain is a trusted partner to more than 100,000 corporate clients throughout North America, Europe, Latin America and the Pacific Rim. The company currently employs more than 18,000 staff worldwide and generated sales of $2.4 billion in 2006.