Software, backup, Storage

Iron Mountain Buys Stratify for $158 Million

Wade Roush 10/31/07

Stratify, which sells electronic discovery software to law firms and large corporations, has agreed to be purchased by Boston-based document storage and data protection company Iron Mountain for $158 million in cash, the two companies announced today.  Founded in 1999, Stratify is based in Mountain View, CA, and has received venture funding from Mobious Venture Capital and In-Q-Tel, the U.S. intelligence community’s strategic investment firm. John Clancy, president of Iron Mountain Digital, the company’s electronic backup division, said the acquisition will help Iron Mountain customers cope with the growing cost of document discovery necessitated by lawsuits and regulatory investigations.

Wade Roush is Xconomy's chief correspondent. You can e-mail him at wroush@xconomy.com, call him at (617) 252-7323, or follow him on Twitter at http://twitter.com/wroush.