ITRENEW

ZMC Agrees to Sell ITRenew to Iron Mountain

Retrieved on: 
Friday, December 10, 2021
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ITRenew Inc. (ITRenew or the Company), a portfolio company of ZMC (ZMC), announced today it has signed a definitive agreement pursuant to which Iron Mountain incorporated (NYSE: IRM) will acquire the Company.

Key Points: 
  • ITRenew Inc. (ITRenew or the Company), a portfolio company of ZMC (ZMC), announced today it has signed a definitive agreement pursuant to which Iron Mountain incorporated (NYSE: IRM) will acquire the Company.
  • The 2017 acquisition of ITRenew by ZMC was the result of a targeted search led by ZMC principals for businesses that would benefit from the explosive growth in hyperscale data centers.
  • Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER to transform their businesses.
  • To learn more about Iron Mountain, please visit: www.IronMountain.com and follow @IronMountain on Twitter and LinkedIn.

Iron Mountain to Acquire ITRenew

Retrieved on: 
Friday, December 10, 2021
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Iron Mountain Incorporated (NYSE: IRM), the leading information management company, has entered into a definitive agreement to acquire ITRenew, a global leader in mission critical data center lifecycle management solutions.

Key Points: 
  • Iron Mountain Incorporated (NYSE: IRM), the leading information management company, has entered into a definitive agreement to acquire ITRenew, a global leader in mission critical data center lifecycle management solutions.
  • Following the close of the transaction, ITRenew will form the platform for Iron Mountains Global IT Asset Lifecycle Management business.
  • Leverages and Extends Key Iron Mountain Strengths: Iron Mountain will build on this strategic platform and accelerate enterprise growth by leveraging its global customer base and best-in-class data security and logistics capabilities.
  • Under the terms of the agreement, Iron Mountain will acquire at closing 80 percent of the shares of ITRenew for approximately $725 million in cash.