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Iron Mountain Agrees To Sell IPM Assets To NCC Group For $220 Mln

May 13, 2021 — 02:12 am EDT

Written by RTTNews.com for RTTNews ->

(RTTNews) - Iron Mountain Inc. (IRM) Thursday said it signed an agreement to sell its Intellectual Property Management or IPM business to NCC Group in the UK.

All of the assets associated with IPM will be sold to NCC for gross proceeds of $220 million, or around $165 million on an adjusted basis. The transaction is expected to close in early June 2021.

IPM represented revenue and Adjusted EBITDA of approximately $33 million and $22 million, respectively.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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