Iron Mountain To Sell Its Assets To Autonomy For $380 million

Iron Mountain Inc IRM agreed to sell its online backup & recovery, digital archiving and eDiscovery solutions to Autonomy Corp AUTNF for $380 million cash. The deal is likely to close within 45 to 60 days. “This transaction is another significant step in delivering on the commitments we made in our three-year strategic plan announced in April and we are very pleased with the outcome of this process,” said Richard Reese, Iron Mountain's Executive Chairman and Chief Executive Officer. IRM shares fell 1.67% to close at $32.43 on Friday, while AUTNF shares gained 0.29% to close at $27.73 on Friday. Read more from Benzinga's Company news.