Iron Mountain buys Mimosa Systems for $112 million in cash
By APMonday, February 22, 2010
Iron Mountain buys Mimosa Systems for $112 mln
BOSTON — Iron Mountain Inc., a data and document storage company, said Monday that it has purchased Mimosa Systems Inc. for $112 million in cash.
Mimosa, based in Santa Clara, Calif., manages the archiving of data, such as e-mail, for corporate clients in those customers’ facilities. That complements Iron Mountain’s own data-archiving services, which are managed on servers away from a client’s location, Iron Mountain said. Many larger businesses prefer to keep business information stored on their premises instead of having the data handled remotely, Iron Mountain said.
Mimosa’s chief executive, T.M. Ravi, will become the chief marketing officer at Iron Mountain Digital.
Shares of Iron Mountain, which is based in Boston, fell 43 cents, 1.8 percent, to $23.72 in morning trading.
