Iron Mountain Completes Agreement to Expand footprint to India with JV with Web Werks

Iron Mountain is expected to invest $150 million over the next two years in a joint venture with Web Werks. Web Works is one of India’s top colocation data center providers. Iron Mountain, which is a storage and information management services company first announced its plan to invest on February 24, 2021. An agreement has been officially reached and Iron Mountain expects to become the majority investor in the venture after the investment period.

Web Werks has already begun to expand and recently announced that they have acquired land to build a standalone purpose-built greenfield data center in Navi Mumbai. The facility will be a 100,000 square-foot structure, Uptime Tier 3 designed data center with 12.5MW of power and a rich interconnectivity ecosystem consisting of major Telcos.

Web Werks is also expected to have a combined footprint of 325,000 square feet, provide 16.5 MW of capacity, house six worldwide Points of Presence (POPs), enable access to 160+ ISPs, support 6,000+ servers, and support a growing customer base of 850+.

Iron Mountain Press Release on April 21, 2021:

BOSTON--(BUSINESS WIRE)-- Iron Mountain Incorporated (NYSE:IRM), the storage and information management services company, today announced that, further to the press release dated February 24, 2021, it has closed on the agreement to form a joint venture with Web Werks, one of India’s top colocation data center providers. Iron Mountain expects to invest $150 million over the next two years and anticipates being the majority investor in the venture after the investment period.

Web Werks -- which already operates three Tier 3, carrier-neutral data centers in Mumbai, Pune and Delhi NCR -- recently announced that they have acquired a land parcel to build a standalone purpose-built Greenfield data center in Navi Mumbai. This new standalone 100,000 square foot structure will be a next-generation, Uptime Tier 3 designed data center with 12.5MW of power and a rich interconnectivity ecosystem consisting of major Telcos, 160+ ISPs and three major Internet Exchanges: De-CIX, Extreme IX and NIXI. The new facility, expected to be ready for service by mid 2022, abuts Web Werks’ existing data center in Navi Mumbai.

“We are very pleased to reach today’s milestone and to join forces with the talented and seasoned team at Web Werks in order to meet the strong customer demand in India,” stated Michael Goh, General Manager, Asia-Pacific at Iron Mountain Data Centers. “Together we look forward to expanding and building new highly connected, secure and compliant data centers in the pan-India region for our hyperscale, network, content and enterprise customers.”

With the latest land expansion, Web Werks is expected to have a combined footprint of 325,000 square feet, provide 16.5 MW of capacity, house six worldwide Points of Presence (POPs), enable access to 160+ ISPs, support 6,000+ servers and support a growing customer base of 850+.
“India is one of the fastest growing digital markets in the world with 560 million internet subscribers and a rapidly growing number of businesses adopting digital transformation and moving workloads to the cloud,” stated Nikhil Rathi, CEO, Web Werks. “We are one of the few data center providers that can provide a pan-India footprint backed by the interconnected, compliant and scalable infrastructure needed to support the insatiable demand in the region.”

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.

About Web Werks
With a combined footprint capability of 225,000 square feet, Web Werks operates 3 strategically located Data centers in Mumbai, Pune and Delhi NCR along with 3 worldwide Points of Presence (POPs). Web Werks currently operates 4 megawatts (MW) of capacity supporting 6,000+ servers running 850 clients. Web Werks through its Data centers also provides access to a robust, neutral interconnection ecosystem of carrier, content and cloud providers including over 160 Internet Service Providers (ISP) and 5 Internet Exchanges. As market leaders in hyper connected infrastructure, Web Werks supports a broad base of well-known brands from Enterprise, BFSI, SMEs and OTTs who require the ability to efficiently and effectively scale their online businesses.