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US firm Iron Mountain in talks to buy Web Werks


MUMBAI: US information administration providers firm Iron Mountain is in superior talks to amass information centre service supplier Web Werks India.

Net Werks is anticipated to draw a valuation of $180-200 million, mentioned three folks with direct data of the matter.

“Presently, Iron Mountain is doing due diligence and have signed exclusivity clause with the corporate,” one among them mentioned. “Different potential consumers are additionally being explored by the funding bankers.”

Promoters of the corporate have appointed funding financial institution Deutsche Bank to search for consumers, the sources mentioned.

Nikhil Rathi, cofounder of Net Werks, nevertheless, denied the event. “The data is just not true,” he mentioned in an e-mail response to ET.

Spokesperson for Iron Mountain India didn’t reply to queries as of press time Friday.

“This acquisition would assist Iron Mountain develop at a sooner clip and can give it entry to over 1500 purchasers,” mentioned an individual with data of the deal.

Based in 2000, Net Werks now gives colocation and cloud providers throughout three nations with six geographically positioned information centres and factors of presence, together with Mumbai, Pune, Delhi-NCR, Dubai and Philadelphia.

Demand for information centres is anticipated to soar because of the proposed information localisation rule, given the dimensions of the market.

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