Information protection and storage services company Iron Mountain has acquired Xepa Digital, a file formats archiving provider, to extend its footprint in the film and sound industry.
Iron Mountain provides film studios and record labels preservation services, including long-term archiving, tape inspection and duplication services, film cleaning and meta-data cataloging services. Iron Mountain preserves approximately six million analog audio tapes with on-site digital conversion.
Xepa Digital is involved in converting analog and outmoded digital audio and video tapes to high resolution digital file formats for archiving and distribution.
As part the acquisition, Iron Mountain will retain all of Xepa’s employees, including the company’s three founders Ken Caillat, Edwin Outwater and Claus Trebly. They will join Iron Mountain as studio executives responsible for the day-to-day operation. Xepa Digital has been recognized with multiple Grammy nominations for its work.
Edwin Outwater managing partner at Xepa Digital said: This acquisition signals Iron Mountain’s clear understanding of the changing business models in the industry and its readiness to provide its customers with an end-to-end solution utilizing the newest access, storage and electronic-delivery systems available.
Iron Mountain has been in the acquisition mode, Xepa being the ninth acquisition this year. Last month it acquired Stratify, a provider of advanced electronic discovery services for the legal market, for approximately for $158 million. In September 2007, it acquired RMS Services for an undisclosed price to expand its health information management solutions business. The company acquired Accutrac Software, a California-based provider of records-management software and professional services in June 2007 and records management vendor ArchivesOne in May 2007.
The company earlier announced that it is planning to spend between $500m and $1.5 billion on acquisitions over the next five years.
Source: ComputerWire daily updates