Iron Mountain has acquired G4S Plc's records management and data security business units in Columbia for nearly $54 million as part of an expansion strategy in South America.
Boston-based Iron Mountain agreed to buy Secure Data Solutions Colombia SAS and G4S Document Delivery SAS and the transaction is set to wrap up in September, Iron Mountain said Aug. 28.
William Meaney, president and CEO of Iron Mountain, said the company aims to grow its presence in emerging markets and seek opportunities with fresh records outsourcing platforms.
This deal is Iron Mountain's first acquisition in Columbia and the company will manage Secure Data Solutions’ large volume of customer hardcopies and data protection tapes.
Iron Mountain plans to integrate the acquired groups into its existing businesses in Latin America.