Wednesday, October 31, 2007

Iron Mountain digs up Stratify buy

Boston's Iron Mountain Inc. reports reaching an agreement to acquire a California-based electronic discovery company.

Iron Mountain plans to acquire for $158 million Stratify Inc. based in Mountain View, Calif. Stratify is a provider of electronic discovery services for the legal market. The deal is scheduled to close by the end of the year, company officials report.

The deal calls for Stratify, founded in 1999, to become a division of Iron Mountain Digital, Iron Mountain's Southborough-based electronic storage business that was founded in 2004, according to the companies.

Earlier this month, Iron Mountain bought for an undisclosed amount Southfield, Mich.-based RMS Services USA Inc., a 30-year-old company specializing in outsourced hospital file room products. In June, Iron Mountain acquired, also for an undisclosed amount, Accutrac Software Inc., a California-based provider of records-management software and professional services.

Iron Mountain was founded in 1951. The company reported 2006 net income of $128.8 million.