Iron Mountain Incorporated
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| Public | |
| Traded as | : IRM S&P 500 Component |
| Industry |
Information storage Enterprise information management |
| Founded | 1951 |
| Headquarters | Boston, Massachusetts, USA |
|
Number of locations
|
1,400+ |
|
Key people
|
William Meaney, CEO |
| Revenue |
 US$3.5 billion (2016) |
 US$501.6 million (2016) |
|
|
US$104.8 million (2016) |
|
| Total assets |
US$9.5 billion (2016) |
| Total equity |
US$1.9 billion (2016) |
|
Number of employees
|
24,000+ (2016) |
| Website | www |
Iron Mountain Inc. (: IRM) is an American enterprise information management services company founded in 1951 and headquartered in Boston, Massachusetts. Its records management, information destruction, and data backup and recovery services are supplied to more than 220,000 customers throughout North America, Europe, Latin America, Africa, and Asia.
Iron Mountain is a component of the S&P 500 Index and a member of the FTSE4Good index.
The company was started by Herman Knaust, who had made his fortune growing and marketing mushrooms. He purchased a depleted iron ore mine and 100 acres (0.40 km2) of land in Livingston, New York for $9,000 in 1936, needing more space to grow his product. By 1950, the mushroom market had shifted, and Knaust was looking for alternative uses for his mine, which he had named "Iron Mountain."
Knaust saw a business opportunity, amidst widespread Cold War fears, in protecting corporate information from nuclear attack and other disasters.
The company was originally known as "Iron Mountain Atomic Storage Corporation;" it opened its first underground "vaults" in 1951 and its first sales office in the Empire State Building, about 125 miles (201 km) south. Iron Mountain's first customer was East River Savings Bank, who brought microfilm copies of deposit records and duplicate signature cards in armored cars for storage in the mountain facility. In 1978, the company opened its first above-ground records-storage facility.
This first iteration of Iron Mountain was bankrupt by the early 1970s and was wholly acquired by Vincent J. Ryan through his holdings in Schooner Capital Corporation, Boston, Massachusetts. At the time, it consisted of the original facility in Livingston, New York and IMAR (Iron Mountain at Rosendale), a former limestone mine and mushroom cave outside of Kingston, New York. In 1980, it expanded to Rhode Island through the purchase of a former Industrial National Bank (a precursor to FleetBoston) cold site and data tape repository in Glocester, Rhode Island. It had many Fortune 500 clients at the time, and its revenue was in the $6 million range in the early 1980s.
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Wikipedia