Autonomy (news, site) announced today that it is acquiring Iron Mountain’s archiving, e-discovery and online backup business for US$ 380 million in cash. This acquisition makes Autonomy big. How big? According to company statistics, Autonomy is now responsible for 25 petabytes of customer data and over 25,000 customers, who will now have Autonomy's advanced technology for information governance in private clouds.
Autonomy Now with Compliance, e-Discovery, Analytics
Iron Mountain had indicated last month that it was considering selling the digital business. Apparently it wasn't kidding.
IDC recently recognized Autonomy as having the largest market share and fastest growth in the worldwide search and discovery market. Today’s news means the organization is expanding even more.
Autonomy has been working with Iron Mountain for some time to finalize the recently announced deal. Autonomy cites processing customer data in the cloud as a strategic component of its information governance business. Now, the company is adding regulatory compliance, legal discovery and analytics to its capabilities. Iron Mountain will also enable Autonomy to support collection and processing of non-regulatory data from multiple channels including distributed servers, PCs and millions of mobile devices.
Autonomy will also offer Connected, its digital data protection product, to current Iron Mountain customers across enterprise server, PC and mobile devices. Inclusion of this product drives non-regulatory and structured data into the companies cloud-based information processing platform.
Autonomy’s CEO, Dr. Mike Lynch, suggests that the company is a visionary, commenting:
In 2007, we correctly predicted the merging of regulatory archiving and search, and we believe we are now seeing the next phase where the convergence of regulatory archiving, backup and data restoration with operational processing of data in the cloud is coming to pass.”
However, it isn’t just Autonomy’s capabilities and data growing. The company has also increased its customer base by approximately 6,000. Existing Iron Mountain customers may be concerned about impacts. The companies have promised that existing active Iron Mountain Digital customers will continue to receive support without disruption.
The acquisition must undergo regulatory review and closing. Iron Mountain and Autonomy expect to finalize the agreement within 45 to 60 days. Individuals who want to learn more about the deal can attend a teleconference to discuss the transaction. The call will be hosted at 10:00a.m. BST on May 16 and available live via webcast.