Web Werks & Iron Mountain Ventures into JV to Inflate the Indian Data Center Footprint

Web Werks, independent data center providers, has ventured into a strategic relationship with Iron Mountain, who expected to invest about $150mn primary equity into Web Werks in the next two years.

Nikhil Rathi, CEO, Web Werks says, "Joining forces with the Iron Mountain Data Center team will further solidify Web Werk's leadership position in the pan-India region and among the broader set of global customers. Web Werks and Iron Mountain Data Centers are fully committed and aligned to grow and scale to meet the digital transformation and interconnection needs of our customers. The Joint Venture will position Web Werks among the select few data center operators with assets across all major cities and have both HyperScale and dense Interconnection expertise. We look forward to collaboration and our continued success."

Web Werks operates three Tier 3, carrier-neutral datacenters in Pune, Mumbai and Delhi NCR with a combined footprint capability of about 225,000 sqft. This investment would allow Web Werks to stretch its operations in its three existing markets immediately and also aid in expanding across Bangalore, Chennai and Hyderabad.

Mark Kidd, Executive Vice President & General Manager, Iron Mountain Data Centers states, "This investment reflects Iron Mountain's commitment to invest in high growth, good return global markets to continue to meet our customer's requirements. The India data center market is projected to grow exponentially in the coming years and Iron Mountain is excited to be an early mover into a market where the demand is high and the supply is low. Web Werks has a highly respected and seasoned leadership team; we are delighted to not only support their continued growth and success but also to provide our existing Iron Mountain data center customers access to this growing and thriving market."

Web Werks possesses about six worldwide Points of Presence (POPs) that offers four megawatts (MW) of existing capacity, supports 6,000 plus servers and supports 850 clients. While Iron Mountain Data Center customers get access to three rapidly growing Indian markets, that include the second most active peering location in Mumbai.

Michael Goh, General Manager Asia Pacific at Iron Mountain Data Centers says, "India provides an important next step in expanding our Asia Pacific footprint. We have seen very strong regional demand from our global customers following the grand opening of our Singapore data center, SIN-1, in 2019."

Deutsche Bank acted as the exclusive financial advisor to Web Werks on the fundraise, Khaitan & Co and Ernst and Young acted as the exclusive advisors to Web Werks. Cyril Amarchand Mangaldas and PwC India acted as advisors to Iron Mountain on this transaction, Jones Lang LaSalle acted as an introducing partner to both parties.