Iron Mountain acquires majority stake in data center provider Web Werks for $150 million medianama.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medianama.com Daily Mail and Mail on Sunday newspapers.
Mumbai-based data centre firm Web Werks said storage and information management company Iron Mountain will invest $150 million primary equity over the next two years in Web Werks. Post-investment, Iron Mountain will be the majority stakeholder in the venture. Once completed, this transaction will allow Web Werks to accelerate its expansion across different Indian cities and build capacity. The transaction is expected to close within the next 90 days, subject to customary closing conditions. We have 15 data centres worldwide, 11 in North America, three in Europe, and one in Singapore. We are always on the lookout to expand our footprint geographically. Asia is one of the key markets that we are looking at, because Asia is forecast to grow tremendously over the next five years. Since Iron Mountain has only one data center in Asia.India is one of our first priority to expand into because that is what a lot of our customers are actually looking at, said Michael Goh, General Manag
Web Werks India Pvt. Ltd.
Web Werks Enters Into Joint Venture Agreement With Iron Mountain for USD150mn Equity Investment to Expand Indian Data Center Footprint
Wednesday, February 24, 2021 5:30PM IST (12:00PM GMT)
Joint Venture to fuel expansion plans in India
Mumbai, Maharashtra, India: Web Werks, one of India’s leading independent data center providers, today announced that it has entered into a strategic relationship with Iron Mountain (NYSE: IRM), who will invest US$150mn primary equity into Web Werks over the next two years. After the investment period, Iron Mountain will be the majority investor in the venture. Once completed, 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 cond
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Hallyu K-pop dance classes, local blockbuster movies, tempting variety of authentic cuisines, Muay Thai and even a milder version of the Thailand s New Year s throwing-of-water celebrations will be available on board World Dream. Photo Credit: Dream Cruises
Dream Cruises will be extending World Dream s Singapore run to 27 June, welcoming guests with new Korean- and Thai-themed experiences on board the ship for the upcoming holiday seasons.
The decision comes on the back of overwhelming response from Singapore residents for our Super Seacation cruises since its inaugural 6 November 2020 sailing, said Dream Cruises president, Michael Goh.
The cruise line is joining hands with The Embassy of the Republic of Korea in Singapore, Korea Tourism Organization and Tourism Authority of Thailand in Singapore to bring some of the most loved experiences from these Singaporean s destination favourites to World Dream.