Iron Mountain enters Philippines by acquiring Santa Fe Group

Iron Mountain Inc, a global records management outsourcing company, is entering the Philippines and other new emerging markets by acquiring the information management operations of Santa Fe Group. The acquisition involves the information management business of Santa Fe Group in 10 regions – Spain, India, Hong Kong, Macau, Indonesia, the Philippines, Singapore, Malaysia, South Korea and Taiwan – for approximately EUR27m (USD35.6m). Marc Duale, President International for Iron Mountain, said the transaction, when completed, marks the company’s entry into four new emerging markets – Indonesia, Macau, the Philippines and South Korea. He added that records management outsourcing in emerging markets is still in early stage, offering attractive and long-term internal growth.