Iron Mountain acquires IO Data Centres’ US operations for $1.3bn
Iron Mountain, a US-based leader in providing information storage and management services, has announced that it has agreed to acquire the US operations of data centre firm, IO Data Centres.
The two companies have entered into a definitive agreement that will see Iron Mountain purchasing four data centres, located in Arizona, New Jersey and Ohio, in a deal worth over $1.3bn.
"We are pleased to enter into an agreement with Iron Mountain and excited by the potential this transaction represents,” said George Slessman, Founder and CEO of IO.
“Iron Mountain's deep customer relationships, global scale and excellent access to capital markets, combined with IO's strong presence in the high-growth data centre industry will provide attractive opportunities for our employees and a broader, more geographically diverse platform of facilities and services for our customers. “
The acquisition of IO Data Centres follows on from Iron Mountain’s purchase of Fortrust data centre in September and the company’s planned acquisition of two Credit Suisse data centres in the markets of London and Singapore that will close in 2018.
"We continue to experience strong demand and growth in our data centre business, with a focus on establishing a presence in the largest global markets for colocation and enterprise customers,” said Iron Mountain President and CEO, William Meaney.
“Our strategy includes organic expansion within our existing footprint, greenfield development in the largest U.S. markets such as our newly opened campus in Northern Virginia, and targeted acquisitions of properties with customer profiles that closely mirror our own.”
Once Iron Mountain’s IO Data Centres and Credit Suisse acquisitions close, the company will hold a total 90MW of existing capacity, with an additional 26MW of capacity under construction.
Airbiquity and Cyngn make any warehouse vehicle autonomous
This new partnership will support companies working in warehouses move and handle goods without needing a human to drive the machines. By introducing this technology, warehouses will have the ability to evolve their existing vehicles to become autonomous.
“Working with Cyngn, we have the opportunity to help guide the future of autonomous vehicles and make our technology accessible to more industries,” explained Kamyar Moinzadeh, President and CEO of Airbiquity.
Vehicle agnostic technology for flexibility
Cyngn’s flagship product, DriveMod, is an end-to-end autonomy solution that can be flexibly deployed on multiple vehicle types in various environments. DriveMod delivers intelligent analytics, artificial intelligence, advanced safety features and self-driving capabilities for industrial vehicles.
The technology is vehicle agnostic which means DriveMod works across all kinds of industrial vehicles, regardless of age, vehicle type or manufacturer.
"On the heels of announcing our OTAmatic expansion into non-automotive industry vehicles, this partnership is further validation of the need for safe and secure industrial-grade over-the-air software update management technology to ensure that autonomous vehicles are running most efficiently," said Moinzadeh.
OTAmatic, an over-the-air (OTA) software and data management solution, developed by Airbiquity, securely orchestrates and automates connected vehicle software updates and data management from the cloud.
Securely evolving vehicles to become autonomous
By integrating Airbiquity’s OTAmatic and Cyngn’s DriveMod, organisations can invest in industrial AV technology that starts generating value today while being prepared to tackle the challenges of tomorrow.
Typically, industrial AV solutions require companies to completely replace their existing fleet. This new partnership between Airbiquity and Cyngn shifts that paradigm through retrofitting.
Discussing the benefits of the new partnership, Lior Tal, CEO at Cyngn said: "Autonomous vehicle fleets generate vast amounts of data, which we leverage to derive greater insights and create opportunities for increased efficiency. By using Airbiquity's most advanced and industry-proven over-the-air update technology, companies gain access to these ever-expanding capabilities without disrupting their daily operations."
With both companies’ technology, organisations in the materials handling market will be able to securely evolve their vehicles into AV systems which can be refined over time – thus leading to increased autonomous fleet management efficiency and up-time.
Leveraging data to improve AVs
DriveMod enables fleets of all shapes and sizes to drive autonomously. This can be achieved by a simple retrofit or by being embedded directly into original equipment manufacturer (OEM) vehicles at assembly.
Businesses within many industries, such as mining, automotive and construction, use OTAmatic to efficiently plan and execute OTA campaigns. This can be done with refined vehicle and device targeting, discrete policy and privacy controls, customisable user communications and solution deployment flexibility.
Over time and with more data, DriveMod will develop a deeper understanding of the domains in which it operates. Combining this with OTAmatic’s over-the-air software updates ensures autonomous vehicle fleets will continue to generate novel value and efficiency.