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Iron Mountain buying spree races ahead with $160m Arcus deal
- Article from:
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The Boston Globe
- Article date:
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September 30, 1997
- Author:
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Copyright informationCopyright 1997 The Boston Globe. (Hide copyright information)
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Iron Mountain Inc. just keeps getting bigger.
The Boston-based document storage company said yesterday it had
agreed to buy Arcus Group Inc. of Pleasanton, Calif., for $160
million in cash and stock -- the biggest deal in its history.
The purchase represents Iron Mountain's 42nd acquisition since
mid-1994, when the company set out to dominate the records management
business by buying up competitors in the rapidly consolidating
industry.
The company said it will pay $103 million in cash and about $57
million in stock and options for closely held Arcus. Iron Mountain
stock yesterday rose 1/4, to 35 1/2.
Iron Mountain's acquisition strategy has picked up steam this
year. With three months to ...