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Web Werks Enters Into Joint Venture Agreement With Iron Mountain for USD150mn Equity Investment to Expand Indian Data Center Footprint

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 c ....

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Data Center Giants Report Strong Growth, 'Competitive Intensity' In U.S.

Big data center providers continue to grow at a steady clip as more capital and resources flow into the fast-changing sector.
Equinix and Digital Realty, two of the largest data center firms in the world, each reported their fourth-quarter results last week, showing consistent revenue growth despite the impact of the coronavirus pandemic on development timelines and countless enterprises across the world.
“We believe we are well-positioned to continue to deliver sustainable growth . whatever the macro environment may have in store,” Digital Realty CEO Bill Stein said on a Thursday call with shareholders.
Digital Realty reported $1B in revenue and $130M in bookings from October through December 2020, including $21M in smaller deals of 1 megawatt or less and $12M in interconnection services, which offer boosted connectivity to its customers. Digital Realty executives also acknowledged the rapidly changing competitive environment for data centers, with hyper ....

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