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Iron Mountain Eyes Expansion in Asia With InfoZafe Buyout
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Iron Mountain Incorporated (IRM - Free Report) has expanded its footprint in Bangkok with the acquisition of InfoZafe. Per management, addition of InfoZafe's storage and information management services is a significant move for the company’s Thai business.
Notably, InfoZafe provides document storage and information destruction to preeminent public and private companies in Thailand. It also provides secure storage, shredding and degaussing/erasure of electronic devices and media. The company’s services are backed by its commitment to social and environmental responsibility.
The announced acquisition offers an additional facility, taking the count to more than 210 customers and 19 employees for the company’s existing business. In fact, the buyout will strengthen the company’s service delivery capacity, and complement its portfolio of five facilities and four million cubic feet of storage.
InfoZafe’s impressive level of operational and storage capacity as well as strong customer relationships will enable Iron Mountain to expand its scale and better cater regional, national and international customers with information-management needs.
Management noted that the acquisition is in line with the company’s specific focus on faster-growing Asian markets. As companies undergo digital transformation, Iron Mountain is on a constant look out to leverage on the convergence of physical and digital information management. This enhances returns for the company’s regional business and positions it to capitalize on the global digital transformation trend.
Notably, Iron Mountain’s inorganic growth strategy to emerge as a preeminent global leader in storage and information management services will bolster its top line. Nonetheless, the competitive landscape of the storage and information management services industry is anticipated to result in aggressive pricing, adversely impacting Iron Mountain’s margins in the near term.
Over the past three months, shares of this Zacks Rank #3 (Hold) company have declined 6.2% as against the industry’s growth of 6.3%.
Host Hotels & Resorts’ funds from operations (FFO) per share estimates for 2019 moved marginally north to $1.82 over the past month.
Lamar Advertising’s FFO per share estimates for the ongoing year have been revised slightly upward to $5.83 in 30 days’ time.
Duke Realty’s FFO per share estimates for the current year moved up to $1.41 in the past month.
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Iron Mountain Eyes Expansion in Asia With InfoZafe Buyout
Iron Mountain Incorporated (IRM - Free Report) has expanded its footprint in Bangkok with the acquisition of InfoZafe. Per management, addition of InfoZafe's storage and information management services is a significant move for the company’s Thai business.
Notably, InfoZafe provides document storage and information destruction to preeminent public and private companies in Thailand. It also provides secure storage, shredding and degaussing/erasure of electronic devices and media. The company’s services are backed by its commitment to social and environmental responsibility.
The announced acquisition offers an additional facility, taking the count to more than 210 customers and 19 employees for the company’s existing business. In fact, the buyout will strengthen the company’s service delivery capacity, and complement its portfolio of five facilities and four million cubic feet of storage.
InfoZafe’s impressive level of operational and storage capacity as well as strong customer relationships will enable Iron Mountain to expand its scale and better cater regional, national and international customers with information-management needs.
Management noted that the acquisition is in line with the company’s specific focus on faster-growing Asian markets. As companies undergo digital transformation, Iron Mountain is on a constant look out to leverage on the convergence of physical and digital information management. This enhances returns for the company’s regional business and positions it to capitalize on the global digital transformation trend.
Notably, Iron Mountain’s inorganic growth strategy to emerge as a preeminent global leader in storage and information management services will bolster its top line. Nonetheless, the competitive landscape of the storage and information management services industry is anticipated to result in aggressive pricing, adversely impacting Iron Mountain’s margins in the near term.
Over the past three months, shares of this Zacks Rank #3 (Hold) company have declined 6.2% as against the industry’s growth of 6.3%.
Key Picks
Investors can also consider some better-ranked stocks from the same space like Host Hotels & Resorts, Inc. (HST - Free Report) , Lamar Advertising Company (LAMR - Free Report) and Duke Realty Corporation , carrying a Zacks Rank of 2 (Buy), currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Host Hotels & Resorts’ funds from operations (FFO) per share estimates for 2019 moved marginally north to $1.82 over the past month.
Lamar Advertising’s FFO per share estimates for the ongoing year have been revised slightly upward to $5.83 in 30 days’ time.
Duke Realty’s FFO per share estimates for the current year moved up to $1.41 in the past month.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
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