WASHINGTON (dpa-AFX) - Iron Mountain Inc. (IRM) Thursday said it signed an agreement to sell its Intellectual Property Management or IPM business to NCC Group in the UK.
All of the assets associated with IPM will be sold to NCC for gross proceeds of $220 million, or around $165 million on an adjusted basis. The transaction is expected to close in early June 2021.
IPM represented revenue and Adjusted EBITDA of approximately $33 million and $22 million, respectively.
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