Iron Mountain Enters Into an Agreement to Expand Data Center Footprint to India With Joint Venture With Web Werks, Entering Mumbai, Pune and Delhi NCR - Seite 2

India is the second-largest telecommunications market in the world. According to a recent report by JLL, India’s Colocation data center market size is expected to grow from 375MW in H1 2020 to 1,078MW by 2025, registering a CAGR of 21%. According to the December 2020, Global Data Centre Colocation & Interconnection report by Structure Research (SR), the Asia Pacific region will account for half of the global colocation market by 2025 driven by large emerging markets like India. The SR report also recognizes Mumbai and Pune as key opportunity markets in India with combined projected MW of built-out critical IT load capacity growth to reach over 470MW by 2025. “India provides an important next step in expanding our Asia Pacific footprint,” stated Michael Goh, General Manager Asia Pacific at Iron Mountain Data Centers. “We have seen very strong regional demand from our global customers following the grand opening of our Singapore data center, SIN-1, in 2019.”

“Joining forces with the Iron Mountain Data Center team will further solidify Web Werk’s leadership position in the pan-India region and among the broader set of global customers,” stated Nikhil Rathi, CEO, Web Werks. “Web Werks and Iron Mountain Data Centers are fully committed and aligned to grow and scale in order to meet the digital transformation and interconnection needs of our customers. The Joint Venture is expected to be among the select few data center operators with assets across all major cities and also have both Hyperscale and dense interconnection expertise. We look forward to the collaboration and continued success.”

Deutsche Bank acted as the exclusive financial advisor to Web Werks on the fund raise. Khaitan & Co and EY acted as the exclusive advisors to Web Werks respectively.

Cyril Amarchand Mangaldas and PWC India acted as advisors to Iron Mountain on this transaction. JLL acted as an introducing partner to both parties.

For more information please visit www.ironmountain.com/datacenters.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of nearly 93 million square feet across approximately 1,450 facilities in 56 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include secure records storage, information management, digital transformation, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a more digital way of working. Visit www.ironmountain.com for more information.