Web Werks JV with Iron Mountain Expand Indian Data Center Footprint
Web Werks, one of India’s leading independent data center providers on February 24 announced that it has entered into a strategic relationship with Iron Mountain, who will invest US$150mn primary equity into Web Werks over the next two years. After the investment period, Iron Mountain will be the majority investor in the venture. Once completed, this transaction will allow Web Werks to accelerate its expansion across different Indian cities and build capacity to cater to one of the fastest-growing data center markets globally. The transaction is expected to close within the next 90 days, subject to customary closing conditions. Web Werks operates three Tier 3, carrier-neutral data centers in Mumbai, Pune and Delhi NCR with a combined footprint capability of 225,000 square feet. This investment enables Web Werks to expand its operations in its three existing markets immediately and expand into Bangalore, Hyderabad and Chennai. Web Werks houses six worldwide Points of Presence (POPs), provides 4 megawatts (MW) of existing capacity, supports 6,000+ servers and supports 850 clients. While Iron Mountain Data Center customers get access to three rapidly growing Indian markets, including the 2nd most active peering location in Mumbai Deutsche Bank acted as the exclusive financial advisor to Web Werks on the fundraise, Khaitan & Co and Ernst & Young acted as the exclusive advisors to Web Werks. Cyril Amarchand Mangaldas and PwC India acted as advisors to Iron Mountain on this transaction, JLL acted as an introducing partner to both parties.
Tags : News/Views Web Werks Iron Mountain Expand Indian Data Center Footprint