CMA Publishes Provisional Findings in Connection with Recall Acquisition

BOSTON--(BUSINESS WIRE)--

Iron Mountain Incorporated IRM, the storage and information management services company, reports that the United Kingdom's Competition and Markets Authority (CMA) published its provisional findings in connection with Iron Mountain's acquisition of Recall Holdings Limited indicating that the acquisition is not expected to result in any substantial lessening of competition outside of Scotland.

Iron Mountain looks forward to addressing the CMA's remaining concerns, outlined in its provisional findings, and completing this process as quickly as possible. Further details regarding the CMA's provisional findings can be found by clicking HERE.

On March 30, 2016, the CMA granted its conditional consent for the Recall acquisition to be completed prior to the issuance of its final decision following its Phase 2 Review. The statutory deadline for completion of CMA's Phase 2 Review is June 29, 2016, and no definitive view can be given at this stage as to its outcome or the scope and timing of any divestitures required. Iron Mountain remains confident that the CMA Review will result in divestments by the Combined Group in the UK significantly less than the estimated maximum, which represents operations and assets that generated 1% of the Combined Group's pro forma revenue for the year ended December 31, 2015.

Iron Mountain completed its acquisition of Recall, primarily as a stock transaction for approximately US$2 billion, on May 2, 2016. Iron Mountain acquired the entirety of Recall's global operations, including all facilities, vehicles, employees and customer assets and excluding operations to be divested in accordance with regulatory agreements in the United States and Canada. Iron Mountain will divest its Australian business other than its data management business throughout Australia and its records and information management and data management businesses in the Northern Territory.

About Iron Mountain

Iron Mountain Incorporated IRM is the global leader for storage and information management services. Trusted by more than 220,000 organizations around the world, Iron Mountain boasts a real estate network of more than 80 million square feet across more than 1,350 facilities in 45 countries dedicated to protecting and preserving what matters most for its customers. Iron Mountain's solutions portfolio includes records management, data management, document management, data centers, art storage and logistics, and secure shredding help organizations to lower storage costs, comply with regulations, recover from disaster, and better use their information. Founded in 1951, Iron Mountain stores and protects billions of information assets, including critical business documents, electronic information, medical data and cultural and historical artifacts. Visit www.ironmountain.com for more information.

Forward Looking Statements

Certain statements contained in this communication may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws and be subject to the safe-harbor created by such Act. Forward-looking statements include, but are not limited to, the outcome of the regulatory review of the transaction in the United Kingdom, the scope and timing of required divestitures as a result of such review, and statements regarding Iron Mountain's goals, beliefs, plans and current expectations. These forward-looking statements are subject to various known and unknown risks, uncertainties and other factors. When Iron Mountain uses words such as "believes," "expects," "anticipates," "estimates" or similar expressions, it is making forward-looking statements. You should not rely upon forward-looking statements except as statements of Iron Mountain's present intentions and of Iron Mountain's present expectations, which may or may not occur. Although Iron Mountain believes that its forward-looking statements are based on reasonable assumptions, Iron Mountain's expected results may not be achieved, and actual results may differ materially from its expectations. Important factors that could cause actual results to differ from Iron Mountain's expectations include, among others: the receipt of governmental approval and required divestitures. Additional risks and factors that may affect results are set forth in Iron Mountain's filings with the Securities and Exchange Commission, including Iron Mountain's Annual Report on Form 10-K for the fiscal year ending December 31, 2015 and Quarterly Report Form 10-Q for the quarter ending March 31, 2016. Any forward-looking statements contained herein are based on assumptions that Iron Mountain believes to be reasonable as of the date hereof and Iron Mountain undertakes no obligation, except as required by law, to update these statements as a result of new information or future events.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160504006822/en/