- Strategic partnership to accelerate expansion of MENA
Digital Hub Ooredoo’s data centre platform, and support the growth
of cloud and AI deployments
- Iron Mountain’s minority equity stake will bring global
expertise to optimise operations, accelerate infrastructure
development and scalability
- Partnership to meet the rising demand for colocation, AI,
Cloud services and hyperconnectivity in the region
Ooredoo Group and Iron Mountain today announced a landmark
strategic partnership, which will see the global leader in
information management services take a minority equity stake in
Ooredoo’s carrier-neutral data centre company, MENA Digital
Hub.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20250213977047/en/
Aziz Aluthman Fakhroo, Group CEO, Ooredoo
(Photo: Business Wire)
The partnership will enable Ooredoo to expand its MENA footprint
of hyperscale and AI data centre infrastructure, combining the
strength of the company’s local development and operational track
record with Iron Mountain’s global operating expertise.
In addition to industry expertise, Iron Mountain will provide
MENA Digital Hub with specialised advice in the design,
construction and daily operations of data centres to meet evolving
global demands. Initial engagement will focus on operational
support, infrastructure enhancement and supporting MENA Digital
Hub’s existing plans to further expand its data centre capacity
across key markets in the MENA region.
The investment by Iron Mountain into Ooredoo’s data centre
platform is a testament to the growing attractiveness of the MENA
region for digital infrastructure with superior growth driven by
cloud services and AI and the ability to leverage globally
differentiated access to power and governmental support. The
platform will be uniquely positioned to further capitalize on its
existing infrastructure to capture an increasing share of the
fast-expanding demand, while ensuring continuous compliance with
local and international regulations.
Aziz Aluthman Fakhroo, Group CEO, Ooredoo, commented: “We
are excited to work with Iron Mountain, leveraging their deep
expertise in hyperscaler data centres to enhance MENA Digital Hub’s
capabilities and drive the growth of AI-enabler data centres in the
region. This partnership will provide the strategic support needed
to optimise operations, accelerate infrastructure development, and
scale our platform to meet the growing demand of blue-chip
customers and major organisations across the region.”
Iron Mountain, which operates in 61 countries and has more than
240,000 customers worldwide, offers a range of information
management services including digital solutions, data centres,
secure records storage, information governance, and asset lifecycle
management. Since founding its data centre division in 2013, Iron
Mountain has scaled to a global market leader, operating
approximately 415 megawatts of colocation, hyperscale and
AI-related capacity in 21 markets across three continents, with
total potential capacity of nearly 1.3 gigawatts.
Bill Meaney, President and CEO, Iron Mountain, commented:
"We are delighted to partner with Ooredoo and support the
burgeoning digital transformation in the MENA region. This alliance
strengthens our data centre business and demonstrates our
commitment to investing in the region's future. We see immense
potential in the MENA market and are excited to leverage our
expertise to drive innovation and growth alongside Ooredoo."
As part of its strategic vision to focus on the core and
monetise the digital infrastructure demand in the region, Ooredoo
established MENA Digital Hub last year to pioneer the region’s
digital transformation by providing cutting-edge colocation
services to hyperscalers and enterprises. As part of its strategic
growth, the company plans to expand its capacity to over 120
megawatts through a USD 1 billion investment in the medium
term.
With data centres across five markets, Ooredoo continues to lead
the MENA region’s data centre market. Ooredoo’s existing
partnerships with key hyperscalers puts the company in a unique
position to leverage the strong tailwinds in the sector and
maximise its business and financial outcomes.
Sunita Bottse, the CEO of the MENA Digital Hub, said:
“This strategic collaboration enables MENA Digital Hub to leverage
Iron Mountain’s deep expertise alongside Ooredoo’s market strength,
reinforcing our ability to meet the escalating demand for reliable
and scalable data centres across key markets in the region. It also
enhances the value we deliver to both new and existing customers,
solidifying our position as a key enabler of digital infrastructure
growth.”
Late last year, Ooredoo raised QAR 2 billion in bank financing
to accelerate the growth of its data centre and AI business,
enabling a significant expansion of capacity and the modernisation
of its data centres. The company is committed to building a new
generation of energy-efficient, AI-powered data centres that will
securely process IT workloads for governments, hyperscalers,
enterprises, and startups, driving innovation and AI adoption
across the region.
The transaction is subject to customary closing procedures.
Moelis & Company acted as the exclusive financial advisor
and Baker McKenzie as legal advisor to Ooredoo Group. A&O
Shearman acted as legal advisor to Iron Mountain.
About Ooredoo Ooredoo is an international communications
Company operating across the Middle East, North Africa, and
Southeast Asia. It serves consumers and businesses in nine
countries, delivering Ooredoo a broad range of content and services
through its advanced, data-centric mobile and fixed networks.
As of 31 December 2024, Ooredoo generated full-year Revenue of
QAR 23 billion. Its shares are listed on the Qatar Stock Exchange
and the Abu Dhabi Securities Exchange.
About Iron Mountain Iron Mountain Incorporated (NYSE:
IRM) is trusted by more than 240,000 customers in 61 countries,
including approximately 95% of the Fortune 1000, to help unlock
value and intelligence from their assets through services that
transcend the physical and digital worlds. The company’s broad
range of solutions address their information management, digital
transformation, information security, data center and asset
lifecycle management needs. Iron Mountain’s longstanding commitment
to safety, security, sustainability and innovation in support of
its customers underpins everything it does.
To learn more about Iron Mountain, please visit
www.IronMountain.com.
About MENA Digital Hub MENA Digital Hub (MDH) is a leader
in physical and digital infrastructure services, specializing in
the design, construction, and management of data centres. With a
network of operational facilities across various markets in the
MENA region, MDH serves hyperscalers, colocation wholesale
providers, and AI infrastructure deployments, enabling seamless
digital growth in the region.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250213977047/en/
Ooredoo contacts
Investor Relations IR@ooredoo.com
Media enquiries: media@ooredoo.com
Iron Mountain contacts
Investor enquiries: Mark Rupe SVP, Investor
Relations Mark.Rupe@ironmountain.com (215) 402-7013
Erika Crabtree Manager, Investor Relations
Erika.Crabtree@ironmountain.com (617) 535-2845
Media enquiries: media@ironmountain.com
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