Author: Jane Edwards|| Date Published: January 12, 2024
Iron Mountain (NYSE: IRM) has finalized its purchase of Regency Technologies, an information technology asset disposition services provider, in a transaction that expands its capabilities in IT asset lifecycle management and disposition.
“This is a strategic move that will propel us to the next frontier in Asset Lifecycle Management. The synergy between our two organizations will result in a wider network that provides our clients with faster services while significantly reducing environmental impact,” Mark Kidd, executive vice president and general manager of asset lifecycle management and data centers at Iron Mountain, said in a statement published Wednesday.
In November, Iron Mountain agreed to acquire Regency Technologies for approximately $200 million, including $125 million upfront and the remaining $75 million in 2025.
Regency Technologies has been providing IT ALM services for more than 20 years to help defense contractors, corporations, government agencies and educational institutions meet their environmental sustainability and data security goals.
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