Iron Mountain acquires GRM’s China division
Iron Mountain has announced the acquisition of GRM’s Chinese operations, expanding the company’s presence in China.
The deal will expand Iron Mountain’s presence in Beijing, Shanghai, Guangdong, Qingdao, Dalian, Chengdu and Wuhan comprising of 2.5 million sqft of storage. In addition, it will add 550 customers and 170 employees to its Chinese customers.
"The opportunity to add this level of operational and storage capacity and customer relationships, along with a talented team, represents an important milestone for our Chinese business," said Peter Hwang, managing director of Iron Mountain Asia. "GRM China's history as a pioneer of the records and information management industry, and as one of the first government-licensed providers in the Peoples Republic of China, carries a great deal of significance. Adding facilities, employees and operational assets at this scale gives us the opportunity to strengthen our presence, continuing to deliver the high levels of service that their customers expect for their records and information management needs."
GRM Document Management is the parent company of GRM China, the firs licenced provider of records and information management services in the Peoples Republic of China. The company was founded in 2003 and delivers various types of storage including media storage, document imaging, secure destruction and information management consulting services to both large multinationals and local companies.
"The acquisition of GRM China advances our strategy for expanding Iron Mountain's presence in faster growing Asian markets like China," said Ernest Cloutier, executive vice president and general manager, International for Iron Mountain. "In Asia we see a growing opportunity for records and information management outsourcing. We seek to capitalise on this opportunity, in part, by acquiring leading local providers that share our commitment to best-in-class service delivery, trust and security. This enables us to support our local, regional and global customers; enhance returns as we integrate these companies into our regional business; and ensure we are poised to make the most of the global trend of information management outsourcing."