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4-Traders Homepage  >  Equities  >  Nyse  >  Iron Mountain Incorporated    

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Iron Mountain Incorporated : Iron Mountain and O'Neil DataTech to Give Customers Centralized Control Over Stored Documents

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11/29/2011 | 02:35pm CEST

Integrated solution will enable improved access and control of offsite physical records in multiple locations

Iron Mountain Incorporated (NYSE: IRM), the information management company, and O'Neil DataTech LLC, a division of O'Neil Software, a provider of offsite records management software, today announced plans to link their companies' respective records management software, creating a unified solution for customers seeking to access and manage records stored across multiple locations and vendors. Planned for the first quarter of 2012, the solution will integrate O'Neil's RS-SQL software utilizing O'Neil's RMBridge? web services with Iron Mountain's Accutrac® software and enable organizations to manage paper records kept at records centers using O'Neil's software as well as Iron Mountain facilities.

In its agreement with O'Neil, Iron Mountain aims to facilitate faster access to information and better compliance with regulations for how organizations store, use and destroy their information. By centrally managing records, Iron Mountain believes organizations can more easily apply uniform polices and processes for how long to keep those documents and when to destroy them. Implementation of this solution will reduce the number of tools customers require to manage records, thereby reducing their costs.

"Managing information consistently is the key to achieving compliance and taking control," said Richard Wilder, senior vice president, Iron Mountain. "In this solution, we want to give customers a single window into their records inventory so they can more easily apply their polices for document retention and disposition as well as legal holds, across their inventory, regardless of storage location."

"We are pleased to partner with Iron Mountain, bringing together RMBridge and Accutrac to help customers better track and manage their physical records inventory," stated Ian Thomas, executive vice president, O'Neil DataTech. "Our two companies have deep records management experience and manage records in an extensive number of facilities around the world. This means companies small and large will be able to consolidate the management of more of their records."

"The success of our business depends on our ability to manage and process a constant stream of information, from leasing contracts to mortgages and financial records," said Richard Daley, director of information management, Tejon Ranch, a diversified real estate development and agribusiness company, and an Iron Mountain Accutrac user. "For a long time, we lacked a standardized, organization-wide approach to records management, making it difficult to find information when we needed it and putting us at risk for non-compliance. We needed a unified information management solution to protect Tejon Ranch's interests and help our employees do their jobs with greater efficiency as the company grows. Iron Mountain gives us that, and this new solution should allow us to gain even more control over our information through greater visibility into our entire inventory."

The agreement between Iron Mountain and O'Neil comes four months after Iron Mountain announced similar plans in July with GimmalSoft, whereby the two companies will develop an interface for managing physical records within SharePoint through Iron Mountain's Accutrac software. Both agreements underscore the emphasis Iron Mountain is placing on a robust records management tool that can help customers better understand the nature of their records inventory and more consistently manage the information within it.

Iron Mountain's Accutrac software gives organizations centralized control of their records inventory and the ability to consistently apply policy across multiple physical repositories. Accutrac's Web interface allows customers to request records be picked up, order the retrieval of offsite records, and perform other transactions.

About O'Neil DataTech LLC

O'Neil DataTech LLC is a provider of cloud based records management solutions and is wholly owned subsidiary of O'Neil Software, The FIRST Choice of Record Centers WorldwideTM. O'Neil Software has been committed to leading the records storage and management industry for 30 years with more than 1,000 record storage facilities utilizing their software in more than 80 countries. O'Neil Software's solutions manage and track multiple types of records including traditional storage boxes, file folders, documents and tapes; from deposit to destruction, work order to invoice. Visit www.oneildatatech.com or www.oneilsoft.com for more information.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) provides information management services that help organizations lower the costs, risks and inefficiencies of managing their physical and digital data. The company's solutions enable customers to protect and better use their information--regardless of its format, location or lifecycle stage--so they can optimize their business and ensure proper recovery, compliance and discovery. Founded in 1951, Iron Mountain manages billions of information assets, including business records, electronic files, medical data, emails and more for organizations around the world. Visit www.ironmountain.com or follow the company on Twitter @IronMountain for more information.

Iron Mountain
Christian T. Potts, 617-535-8721
christian.potts@ironmountain.com
or
Weber Shandwick
Kristen Georgian, 617-520-7042
kgeorgian@webershandwick.com


© Business Wire 2011
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Financials ($)
Sales 2016 3 499 M
EBIT 2016 621 M
Net income 2016 227 M
Debt 2016 6 237 M
Yield 2016 4,91%
P/E ratio 2016 43,22
P/E ratio 2017 31,54
EV / Sales 2016 4,65x
EV / Sales 2017 4,39x
Capitalization 10 032 M
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 41,5 $
Spread / Average Target 8,9%
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Managers
NameTitle
William Leo Meaney President, Chief Executive Officer & Director
Alfred J. Verrecchia Independent Chairman
Stuart B. Brown Chief Financial Officer
Anastasios Tsolakis Chief Information Officer & EVP-Global Services
Jennifer Allerton Independent Director
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