Iron Mountain has acquired EvoSwitch Netherlands and EvoSwitch Global Services for $235 million.
The transaction provides 11 MW of data center capacity in the Netherlands, which is 100 percent leased, with expansion capability of an additional 23 MW, for total capacity of 34 MW.
EvoSwitch, founded in 2007, supports more than 50 connectivity and telecommunication providers, including internet exchanges, such as the Amsterdam Internet Exchange AMS-IX.
Metropolitan Region Amsterdam (MRA) is a critical node in the FLAP data center market (Frankfurt, London, Amsterdam, Paris), which totaled approximately 1160 MW at the end of 2017.
The MRA experienced net absorption of more than 21 MW of space in the fourth quarter of 2017, making it the second largest data center market in Europe and a Top 5 global market.
This transaction enhances Iron Mountain’s presence in the FLAP market, following Iron Mountain’s move into London early this year through the purchase of a data center facility from Credit Suisse.
The MRA region boasts the lowest average energy prices and the most reliable energy grid among FLAP markets.
EvoSwitch has the first 100 percent carbon neutral data center facility in the Netherlands using wind, hydro and biomass power.
Leaseweb Netherlands, a cloud hosting company, represents approximately 45 percent of EvoSwitch’s revenue under a 10-year lease agreement. Leaseweb Netherlands will become one of Iron Mountain Data Centers’ top 5 customers. No other customer represents more than 15 percent of total revenue.