Iron Mountain Data Centers

Iron Mountain Data Centers is the colocation and hyperscale business unit of Iron Mountain Incorporated (NYSE: IRM), the Boston-headquartered records-management giant founded in 1951 that has spent the last decade repositioning as a hybrid physical-and-digital infrastructure REIT. The data-center arm operates a 1.4 GW portfolio across roughly 24 facilities in North America, EMEA and Asia-Pacific, anchored by large hyperscale campuses in Northern Virginia, Phoenix and Frankfurt and a fast-growing India footprint acquired through the Web Werks joint venture.

The unit's origin traces to the 2017 acquisition of IO Data Centers' US business for about $1.3 billion, followed by the 2021 majority investment in India's Web Werks. Iron Mountain Data Centers positions itself as a compliance-heavy operator serving federal, financial and life-sciences enterprise workloads alongside its growing book of hyperscale cloud and AI-training capacity. Because it sits inside a diversified REIT, the segment does not disclose standalone funding rounds; growth is financed through parent-level debt, equity and green bonds.

Under EVP & General Manager Mark Kidd, the segment has become the fastest-growing line in Iron Mountain's Project Matterhorn strategy, with management guiding to more than 1 GW of additional leased-and-under-construction capacity as customer demand pivots toward large-block AI leases.