Iron Mountain, a global leader in information management, innovative storage, data centre infrastructure, and asset lifecycle management today announced it has entered into a definitive agreement to acquire Regency Technologies, a leading provider of IT asset disposition (ITAD) services in the United States. Building on Iron Mountain’s extensive logistics network, which already provides customers with leading information security in IT Asset Lifecycle Management (ALM), the combined platform will establish a market-leading distributed footprint for the remarketing and recycling of IT assets. This will result in enhanced environmental sustainability and increased value recovery at the end of the IT asset lifecycle.
Regency Technologies currently processes over 50,000 metric tons of material annually, reselling more than 2,000,000 units across eight locations spanning the United States. Regency adheres to the environmental protocols of e-Stewards, RIOS, NAID as well as ISO 14001 across its footprint. For more than two decades, Regency has led the way in innovation, technology, and sustainability. Numerous Fortune 500 corporations, government agencies, defence contractors, and educational institutions consider Regency to be their preferred ALM partner.
In 2019, 53.6 million metric tons of e-waste were generated and only 17% was recycled. With the volume of e-waste continuing to rise, increased IT asset disposition practises across the globe are crucial for mitigating the environmental and data security risks associated with the disposal of electronic equipment.
“This strategic transaction represents a significant milestone in our efforts to strengthen Iron Mountain’s presence in the Asset Lifecycle Management sector and our sustainability offerings, and will propel our enterprise growth forward,” said Mark Kidd, EVP & Global General Manager, Asset Lifecycle Management & Data Centres. “Regency seamlessly complements our expanding ALM business, bolstering it with robust remarketing and recycling capabilities to better serve the world’s largest and most innovative companies and help them achieve their environmental and data security goals.”
“We are excited to add Regency’s extensive experience of over 20 years, during which we’ve successfully served enterprises, government entities and retailers, to Iron Mountain’s already impressive customer portfolio, which includes 95% of the Fortune 1000,” said Jim Levine, CEO of Regency Technologies. “By integrating our presence, remarketing expertise, and recycling operations into Iron Mountain’s ALM business, we’ll be uniting a broad array of capabilities, further solidifying our leadership in the market.”