BOSTON – Iron Mountain Incorporated® (NYSE: IRM), the global leader in storage and information management services, today announced the acquisition of the Bonded Services group of companies (Bonded), providers of media asset management services for global entertainment and media companies, for approximately £57 million subject to customary adjustments ($77 million at current Fx rates).
Like other large, global businesses, entertainment and media companies around the globe require specialized services for protecting and preserving their intellectual property (IP) while also making sure it is able to be monetized. Essential to those needs are secure, climate-controlled vaults for physical media preservation (art, film and audio/video tape) as well as a digital environment capable of protecting that IP from hackers and data loss. Having both in one place – the physical and digital storage, as well as the capabilities to transform content for monetization and longer-term preservation – is ideal, providing chain-of-custody and peace of mind for these companies.
Founded in 1930 in New Jersey, Bonded provides services for media content preservation, management and distribution, including fine art vaults and shipping; logistics and distribution; supply chain; and related services for high value physical and digital assets, including works of art, film, audio and video. The group manages more than 10 million of these assets for its 2,000 clients worldwide, with offices in the U.S., Canada, UK, France, the Netherlands and Hong Kong capable of providing in-house digital services that help media and entertainment companies extend their content across digital platforms.
“Bonded has nearly 90 years of entertainment preservation and digitization experience as a recognized leader in the industry,” said Jeff Anthony, senior vice president, Iron Mountain Entertainment Services. “We know first-hand the challenges that media and entertainment companies face in protecting their IP while, at the same time, making sure they can realize the value of it. We have a strong track record in the media and entertainment industry as a partner of choice who can handle both aspects.”
“Much like our more traditional business services customers, media and entertainment companies find themselves challenged to manage their information assets in an increasingly digital world,” said William L. Meaney, president and chief executive officer of Iron Mountain. “Acquiring Bonded enables us to meet those customer challenges on a global level, while also leveraging our combined strengths of storage and logistics capabilities. We’re excited to welcome Bonded’s worldwide customer base to Iron Mountain, and look forward to delivering the high levels of service they have come to expect.”
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