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Autonomy engulfs 5-petabyte Iron Mountain cloud

It's an iron, mountainous cloud. Deal with it

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Autonomy is paying $380m for Iron Mountain's archiving and online backup business.

The Cambridge-based company said the purchase showed the truth of its prediction of the merging of regulatory archiving and search functions for businesses.

The deal adds five petabytes of company data and 6,000 customers to Autonomy's cloud business - which now runs 25 petabytes of data from 25,000 customers.

Autonomy gets Iron Mountain's eDiscovery business, online backup and recovery. The medical records archive and escrow service are not included.

Customers of Active Iron Mountain Digital will continue to be supported.

Autonomy will spend about $10m on integration costs in the next two quarters. It expects the deal to slightly dilute earnings this year before improving them in 2012.

The markets seem to like the deal - Autonomy shares are up 5.5 per cent this morning.

Autonomy's statement on the Iron Mountain deal is here. ®

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