Iron Mountain will invest $150 million for buying stake in Web Werks, a leading data center provider, over the next two years.
After the investment period, Iron Mountain will be the majority investor in Web Werks. This transaction will allow Web Werks to accelerate its expansion across different Indian cities and build capacity to cater to one of the fastest-growing data center markets globally. The transaction is expected to close within the next 90 days, subject to customary closing conditions.
Web Werks operates three Tier 3, carrier-neutral datacenters in Mumbai, Pune and Delhi NCR with a combined footprint capability of 225,000 square feet. This investment enables Web Werks to expand its operations in its three existing markets immediately and expand into Bangalore, Hyderabad and Chennai.
Web Werks houses six worldwide Points of Presence (POPs), provides 4 megawatts (MW) of existing capacity, supports 6,000+ servers and supports 850 clients. While Iron Mountain Data Center customers get access to three rapidly growing Indian markets, including the 2nd most active peering location in Mumbai.