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Iron Mountain acquires majority stake in data center provider Web Werks for $150 million

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We missed this earlier: Web Werks, a large Indian data center provider, on February 24 announced a strategic relationship with New York-headquartered Iron Mountain. Iron Mountain will invest US$150 million primary equity into Web Werks over the next two years, the latter said in a press release. After the investment period, Iron Mountain will be the majority investor in the venture. The company said the investment would help it expand its presence in more cities. The planned investment was first reported by the Economic Times in September 2020.

Web Werks operates three Tier 3, carrier-neutral data centers in Mumbai, Pune and Delhi NCR. This investment will be used by Web Werks to expand to Bangalore, Hyderabad and Chennai, the company said. Web Werks houses six worldwide Points of Presence (POPs), provides 4 megawatts (MW) of existing capacity, supports 6,000+ servers and supports 850 clients. While Iron Mountain Data Center customers get access to three rapidly growing Indian markets, including the 2nd most active peering location in Mumbai.

“Iron Mountain is excited to be an early mover into a market where the demand is high and the supply is low,” said Mark Kidd, Executive Vice President & General Manager, Iron Mountain Data Centers. “We are delighted to […] provide our existing Iron Mountain data center customers access to this growing and thriving market.”

“India provides an important next step in expanding our Asia Pacific footprint,” stated Michael Goh, General Manager Asia Pacifc at Iron Mountain Data Centers. “We have seen very strong regional demand from our global customers following the grand opening of our Singapore data center, SIN-1, in 2019.”

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