Research Desk Line-up: MAM Software Post Earnings Coverage
LONDON, UK / ACCESSWIRE / October 5, 2017 / Pro-Trader Daily looks at the latest corporate events and news making the headlines for Iron Mountain Inc. (NYSE: IRM), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=IRM. The Company announced on October 03, 2017, that it has inked an agreement to acquire Bonded Services Group of Companies, for approximately £57 million ($77 million at current Fx rates). The transaction is subject to customary adjustments. For immediate access to our complimentary reports, including today’s coverage, register for free now at:
Discover more of our free reports coverage from other companies within the Business Software & Services industry. Pro-TD has currently selected MAM Software Group, Inc. (NASDAQ: MAMS) for due-diligence and potential coverage as the Company announced on September 28, 2017, its financial results for Q4 FY17 and year which ended on June 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on MAM Software when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on IRM; also brushing on MAMS. Go directly to your stock of interest and access today’s free coverage at:
Established in 1930, Bonded Services Group is one of the world’s leading media asset management providers. The Company provides media asset management, distribution and logistics, services for media content preservation, supply chain, and related services for high value physical and digital assets, including works of art, film, audio, and video.
The intent of the acquisition is to provide large, global businesses, entertainment, and media companies around the globe the physical and digital storage as well as the capabilities to transform content for monetization and longer-term preservation of their intellectual property (IP).
Iron Mountain Possesses Strong Track Record in Entertainment and Media Industry
Jeff Anthony, Senior Vice President – Iron Mountain Entertainment Services, mentioned that Bonded Services has nearly 90 years of entertainment preservation and digitization experience as a recognized leader in the industry. He added that Iron Mountain is aware of the challenges that media and entertainment companies face in protecting their IP, and believes that the Company has a strong track record in the media and entertainment industry as a partner of choice who can handle both aspects.
Acquisition Enables Iron Mountain to meet Customer Challenges on a Global Level
William L. Meaney, President and CEO of Iron Mountain, stated that acquiring Bonded Services enables the Company to meet those customer challenges on a global level, while also leveraging its combined strengths of storage and logistics capabilities. William added that the Company is excited to welcome Bonded Services’ worldwide customer base to Iron Mountain, and is looking forward to delivering the high levels of service the customers have come to expect.
New Arkansas Record Management Facility
On September 28, 2017, Iron Mountain announced the opening of a new information management facility in Mabelvale at 11205 Otter Creek Road South. Iron Mountain will mark the opening of the 23,000 square feet building.
With a total storage capacity of 200,000 cubic feet of records and 260,000 data tapes, the facility, along with other local and regional Iron Mountain data management, secure shredding and imaging operations, will serve the greater Little Rock and Central Arkansas business community. It joins Iron Mountain’s facility in Bentonville, Arkansas, which services northwest Arkansas and southwest Missouri, and the 1400-plus facilities worldwide that provide services for records storage, data management, secure shredding, and document imaging.
Iron Mountain Acquired Denver Data Center Business in July 2017
On July 28, 2017, Iron Mountain signed an agreement to purchase MAG DATACENTERS, LLC, which operated FORTRUST, a private data center business, for total consideration of approximately $128 million. The transaction would deliver more than 9 megawatts (MW) of existing data center capacity and provide expansion capability for an additional 7 MW.
About Iron Mountain Inc.
Founded in 1951, Iron Mountain is the global leader for storage and information management solutions. Through its network of more than 85 million square feet of space in 1,400 facilities across 46 countries, the Company helps its diversified customer base reduce costs and mitigate risks associated with protection and storage of their information assets. Iron Mountain is headquartered in Boston, Massachusetts.
Last Close Stock Review
On Wednesday, October 04, 2017, the stock closed the trading session at $39.02, slightly climbing 0.18% from its previous closing price of $38.95. A total volume of 1.09 million shares have exchanged hands. Iron Mountain’s stock price surged 14.53% in the last three months, 11.68% in the past six months, and 10.26% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 20.14%. The stock is trading at a PE ratio of 53.45 and has a dividend yield of 5.64%. At Wednesday’s closing price, the stock’s net capitalization stands at $10.28 billion.
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