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LONDON, UK / ACCESSWIRE / August 9, 2017 / Pro-Trader Daily takes a look 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 storage and information management services Company announced on August 07, 2017, that it has opened a new records storage and management facility at Easton, Northampton County in Pennsylvania. The Company will inaugurate the new facility with a ribbon-cutting ceremony followed by guided tours. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Commenting on the opening of the new facility, John "JT" Tomovcsik, Executive Vice President and General Manager of Records and Information Management North America at Iron Mountain, said:

"This facility gives us the opportunity to grow our service footprint in Pennsylvania, one of the most important locations in our worldwide network. While our corporate headquarters are in Massachusetts, Pennsylvania is home to our global business and customer operations centers in Collegeville and Royersford and more than 1,100 Iron Mountain employees throughout the state. Opening this new facility in Easton will let us better serve the storage and information management needs of our existing and future customers in Northampton County and the Mid-Atlantic region."

Don Cunnigham, President and CEO of Lehigh Valley Economic Development Corporation added:

"We are pleased that Iron Mountain has chosen to invest in the Lehigh Valley economy and bring new jobs to the region. Professional business services have been identified as one of the target sectors for the Lehigh Valley thanks to our central location, proximity to markets, and well-developed transportation infrastructure."

Senator Lisa Boscola (D) of Pennsylvania's District 18 stated:

"I am proud to celebrate Iron Mountain's new investment in the Lehigh Valley. It is always great news when a Company, like Iron Mountain that is already heavily invested in Pennsylvania, decides to grow its business here."

Details about the new Records Management Facility at Easton

The new facility is located at 2300, Newlins Mill Road, Easton, Northampton County, Pennsylvania. The facility required a $30.7 million investment. The 182,000 square foot building has a total storage capacity of 2.4 million boxes. The facility would mainly cater to the business community in greater Northampton County along with Iron Mountain's other local and regional data management, secure shredding and imaging operations. The current facility will add to Iron Mountain's existing network of 35 Pennsylvania based facilities. The Company already has over 1,400 records management facilities across the globe.

Strategic Growth plan

On July 28, 2017, Iron Mountain acquired MAG Data Centers LLC, the operator of FORTRUST, a private data center business for approximately $130 Million. The acquisition would expand Iron Mountain's data center capacity by more than 9 megawatts (MW) with the option to expand capability by an additional 7 MW. The deal would also witness Iron Mountain's expansion in the Western US data center market.

In April 2017, the Company partnered with Hyland, a global leader in enterprise content management software, with the aim of providing solutions to automate the workflow functions like accounts payable, contracts management and other back-office processes and convert them into digital format. The partnership will enable the Company's customers to move towards digitization, improve efficiencies, save time and reduce costs.

In January 2017, Iron Mountain acquired a majority stake in Endless DSS LLC, a leading records and information management Company in the UAE, to expand the Iron Mountain's presence in the Gulf Cooperation Council (GCC) and Middle-East.

These acquisitions and expansions are in-line with the strategic goals and vision of the Company. The Company has plans to expand its geographic footprint as well as grow its data center and data management businesses via organic growth, new development, and strategic acquisitions.

About Iron Mountain Inc.

Boston, Massachusetts based Iron Mountain was founded in 1951 and is an industry leader in storage and information management services. Its offer storage solutions including information and asset storage, records management, data centers, data management, and secure shredding. The Company stores and protects business documents, backup tapes, electronic files, medical data and other assets. It caters to more than 230,000 customers in over 46 countries with more than 85 million square feet of space across 1,400 facilities.

Last Close Stock Review

On Tuesday, August 08, 2017, the stock closed the trading session at $37.18, marginally climbing 0.16% from its previous closing price of $37.12. A total volume of 1.02 million shares have exchanged hands. Iron Mountain's stock price advanced 11.12% in the last one month, 6.84% in the past three months, and 1.28% in the previous six months. Furthermore, since the start of the year, shares of the Company have rallied 14.47%. The stock is trading at a PE ratio of 50.93 and has a dividend yield of 5.92%. The stock currently has a market cap of $9.94 billion.

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