Web Werks raises $150 mn from Iron Mountain to fuel India expansion

Iron Mountain will be majority stakeholder in the venture, deal will allow Web Werks to speed up expansion across Indian cities and build capacity

Mumbai-based data centre firm Web Werks said storage and information management company Iron Mountain will invest $150 million primary equity over the next two years in Web Werks. 

Post-investment, Iron Mountain will be the majority stakeholder in the venture. Once completed, this transaction will allow Web Werks to accelerate its expansion across different Indian cities and build capacity. The transaction is expected to close within the next 90 days, subject to customary closing conditions.

"We have 15 data centres worldwide, 11 in North America, three in Europe, and one in Singapore. We are always on the lookout to expand our footprint geographically.