Iron Mountain, the global company in storage and information management services, announced on October 5, the acquisition of the information management operations of Valex Security in South Korea, expanding the company's presence and market leading position. The acquisition of Valex's information management operations – including services for records management, storage and secure destruction – will add three facilities in Seoul to Iron Mountain's existing South Korean business, delivering document storage, scanning and secure destruction to nearly 200 customers.
"Expanding our presence in Seoul and adding talented members of the Valex team represent an important opportunity for our business in South Korea," said Peter Hwang, managing director, Iron Mountain Asia. "As the largest city in South Korea, Seoul is an important hub for our local and regional business, as well as our international customers with operations in and around the city. Acquiring Valex's records management operations provides us with the opportunity to strengthen our presence and serve those customers, and we look forward to building upon the high levels of service that they expect for their records management and information management needs."
Founded in 1997, Valex Security Korea LTD. is a professional outsourcing management and security company. The company also offers services in the areas of cash management, CD/ATM management, secured third party logistics, cash in transit, and records and information management and secure destruction. Based in Incheon with operations throughout South Korea, Valex delivers services to a global base of customers.
"The acquisition of Valex's information management operations advances our strategy of expanding our presence in markets like South Korea, where the records and information management outsourcing opportunity is significant and growing," said Ernest Cloutier, executive vice president and general manager, International for Iron Mountain. "In these types of markets, we look to capitalize on that opportunity by acquiring leading local providers that share our commitment to best-in-class service delivery, trust and security. This enables us to support our local and global customers; enhance returns as we integrate these companies into our regional business; and ensure we are poised to make the most of this trend."