Iron Mountain (IRM) Acquires XData Properties

Iron Mountain (NYSE: IRM) has expanded their data center footprint through the acquisition of XData Properties, one of the largest data center parks in Madrid. The property has enough power secured to eventually develop 79 megawatts in the coming years. In addition to the existing three megawatt data center on site, the first 20 megawatt data center is planned with a 2024 completion date.

“The acquisition of XData enables us to meet the growing demand for connected, compliant and sustainable data center services across Europe and we are thrilled to be expanding our EMEA footprint,” said Eric Boonstra, Vice President and General Manager of Iron Mountain Data Centers EMEA. “Madrid is emerging as a strategic and growing market, and this campus enables us to welcome both enterprise and hyperscale customers.”

Madrid is a strategic and rapidly growing market with high demand across segments due to the direct access to the Madrid-Barcelona fiber optic route, the largest fiber highway in the Iberian Peninsula. This acquisition enables Iron Mountain Data Centers to support a robust ecosystem where cloud, network, service providers and consumers can seamlessly connect with each other.

“This acquisition supports our strategy and commitment to selectively expand into emerging data center markets in order to meet our customers' critical demand needs,” stated Mark Kidd, Executive Vice President and General Manager of Data Centers at Iron Mountain. “We are also pleased that Spain is quickly becoming one of Europe’s leaders in renewable energy generation, which we will leverage to support our and our customers’ sustainability goals.”

HIGHLIGHTS / KEY FACTS

• Iron Mountain Data Center’s campus is one of Madrid’s largest data center parks and is in close proximity to major internet exchanges. The region has a high demand for hyperscale cloud requirements with numerous entities announcing plans to develop a Spanish cloud region. The newly acquired campus is centrally located within hyperscale availability zones and is in an ideal position for built-to-suit deployments.
• The data center campus is located in San Fernando (“Corredor del Henares”), an emerging industrial area in close proximity to main communication networks (A2, M-50) for the city of Madrid resulting in reduced latency. A 10 minute drive from Barajas Airport, the campus is connected by public transport to downtown Madrid.
• As the capital of Spain and a key city in Europe, Madrid is forecasted to become one of the largest European data center markets.
• The Madrid Data Center will provide both local Spanish and global operating businesses with the interconnected infrastructure they require backed by Iron Mountain Data Center’s industry leading compliance and sustainability programs.
• Spain is quickly emerging as one of Europe’s leaders in renewable energy generation, supporting our and our customers’ sustainability goals.

With this acquisition, Iron Mountain Data Centers global footprint now has 20+ sites across 19 markets in 3 continents.

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