The acquisition is valued at approximately $112 million in cash, subject to closing adjustments and T.M. Ravi, formerly the CEO at Mimosa, and now the chief marketing officer (CMO) at Iron Mountain Digital, the technology arm of Iron Mountain, said the entire Mimosa team has been retained.
“This is a big win for our employees, our customers and our partners,” Ravi said. “Mimosa was at a point where we were either planning to go public, or would join forces with someone else to take advantage of a billion dollar market opportunity. Iron Mountain was a very natural partner for us because their vision matched ours, which is to become the leader in information management in a location-agnostic fashion, by offering solutions on premise or in the cloud.”
Arun Taneja, founder and consulting analyst at Hopkinton, Mass.-based Taneja Group, said the acquisition of Mimosa strengthens Iron Mountain’s position in the market place.
“This deal strengthens Iron Mountain’s position in the market as a comprehensive provider of information management solutions,” Taneja said. “Its customers now have greater flexibility to store and manage their information onsite or in the cloud.”
As Iron Mountain Digital’s new CMO, Ravi said he’s responsible for all marketing functions for the division and will be working closely with Ramana Venkata, president of Iron Mountain Digital, to help define and execute on the company’s strategy.
Mimosa had offices around the world, including in countries such as France, Germany, India and Japan. Most recently, the company opened a new office in Ottawa to serve the Canadian market last spring.
As a result of the acquisition, all Mimosa staff members are now a part of Iron Mountain Digital and will remain in their respective geographic locations, Ravi said. In addition, the company’s close to 200 channel partners will now become Iron Mountain partners, he added.
CMS Consulting, a Toronto-based IT services company and one of Mimosa’s handful of Canadian-based channel partners, declined to comment on the acquisition.
The acquisition of Mimosa by Iron Mountain also brings with it, more than 1,000 enterprise customers in the e-mail and file system archiving, eDiscovery, disaster recovery, backup, recovery and storage management space.
In Canada, Ravi said the company plans to further expand its Ottawa-based team to gain more market presence.
“As a result of the acquisition, we’ll make expanded investments with training, sales, products and co-marketing efforts,” Ravi said. “Mimosa channel partners will now have access to a much broader portfolio of solution and will get more resources, products and solutions to sell.”
Mimosa’s flagship NearPoint software solution, which is based on Microsoft technologies, such as Exchange, archives SharePoint data and files and will be used to create a suite of information management solutions at Iron Mountain, Ravi said.