Iron Mountain acquire majority stakes in Web Werks for USD 150 mn
Boston, Feb 27th, 2020: NYSE-listed data centre provider Iron Mountain acquire a majority stake in Web Werks for USD 150 million.
The acquisition will accelerate Web Werks expansion across the country and build capacity to cater to one of the fastest-growing data centre markets globally.
The transaction is expected to close within the next 90 days, subject to customary closing conditions, the statement said.
Founded by Nikhil and Nishant Rathi, Web Werks operates three tier-3, carrier-neutral data centres in Mumbai, Pune and Delhi-NCR with a combined capability of 2,25,000 sq ft. It houses six worldwide points of presence, has 4-megawatt power capacity and supports over 6,000 servers of 850 clients.
The forthcoming investment will enable it to expand operations in its three ex...