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1Clear out junk files and repair common Windows errors2Scan for outdated or missing drivers - takes under a minute3Repair Windows errors before they cause bigger problemsIron Mountain entered the Amsterdam data center market by acquiring EvoSwitch Netherlands B.V. and EvoSwitch Global Services B.V. in 2018. The company announced a €205 million deal on May 30; its SEC filing records that the transaction closed on May 25 and identifies €189 million in cash plus $25 million in future-services consideration. The purchase did not include every EvoSwitch-branded operation.
What Iron Mountain acquired—and when
Iron Mountain’s May 30, 2018 announcement said it had acquired EvoSwitch Netherlands B.V. and EvoSwitch Global Services B.V. The SEC filing gives May 25, 2018 as the closing date. The announcement’s date and the filing’s closing date describe different milestones, not a contradiction. Iron Mountain’s announcement and its SEC filing are the primary sources for the transaction details.
The announcement described the purchase price as €205 million, then approximately $235 million. The filing’s accounting detail is different in form: €189 million in cash and $25 million in additional consideration for future services. The €205 million headline should not be read as all cash paid; the filing identifies a separate future-services component.
What the Amsterdam-area business included
The acquired Dutch business had two locations in the Metropolitan Region Amsterdam. Iron Mountain’s announcement described the following capacities and development potential as of 2018:
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| Location | 2018 description | Power capacity described |
|---|---|---|
| Existing facility | 87,000 square feet of data halls within a 150,000-square-foot facility; expandable to 430,000 square feet | Existing capacity was part of the business’s 11 MW total; the site was described as expandable to 27 MW |
| Development site | Could support a 57,000-square-foot facility, including 41,000 square feet of data hall development | Another 7 MW of potential capacity |
Across the two locations, Iron Mountain stated that the business had 11 MW of existing power capacity and potential to add another 23 MW, for 34 MW in total potential capacity. These are transaction-era figures from the 2018 announcement, not current operating-capacity measurements.
Why did Iron Mountain buy EvoSwitch?
Iron Mountain presented the transaction as a way to expand in Amsterdam and continental Europe and to add capacity for its data center customers. The company highlighted EvoSwitch NL’s focus on security and energy efficiency, as well as its track record of continuous uptime. EvoSwitch chief executive Eric Boonstra said the transaction offered a way to extend existing customer relationships with expansion capacity in continental European markets and potentially serve Iron Mountain’s legacy data center customers in Amsterdam.
The market statistics in the announcement describe conditions at the time, rather than current rankings. Iron Mountain called the Metropolitan Region Amsterdam the second-largest data center market in Europe, said the Frankfurt, London, Amsterdam and Paris (FLAP) markets together totaled about 1,160 MW at the end of 2017, and reported more than 21 MW of net absorption in the Amsterdam region in the fourth quarter of 2017. These figures were published by the company in 2018 and should be understood in that historical context.
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- Save valuable floor space: 12U wall mount server cabinet Dimensions: 24.25" H x21.65" W x17.72" D. MAXIMUM MOUNTING DEPTH is 14.2".
- Keep critical network equipment secure: glass door and side panels are lockable to prevent unauthorized access; Front door can be installed on either side of the front of the cabinet to satisfy your door swing orientation preference
- Easy equipment configuration: Fully adjustable mounting rails and numbered U positions, with square holes for easy equipment mounting with top and bottom punchout panels for easy cable access
- Durability: Made of high quality cold rolled steel holds up to 110lb (50kg) (Easy Assembly Required)
- PCI & HIPPA and EIA/ECA-310-E compliant
Lease concentration and the financial projections
Iron Mountain said the first location was fully leased when the deal was announced. Leaseweb Netherlands, which the company described as a related party of the seller, accounted for approximately 45% of EvoSwitch NL contracted revenue under a 10-year lease. No other customer represented more than 15% of revenue, according to the same announcement. These were company disclosures at announcement, not independently verified current lease or revenue figures.
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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchThe company also forecast that the existing capacity would generate approximately $30 million in annualized revenue at mid-50% adjusted EBITDA margins. It projected a stabilized net operating income yield of 12%–13% after expansion build-out and lease-up. Those were Iron Mountain’s projections in 2018; the announcement does not establish that the forecast results were later achieved.
What stayed with Ocom Group
The deal was not a purchase of every operation using the EvoSwitch name. Iron Mountain’s announcement said EvoSwitch International B.V. remained with Ocom Group after the sale and continued as a brand and data center operator. The retained operating companies named in the announcement were EvoSwitch Germany GmbH and EvoSwitch USA, Inc.
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How the original deal relates to Iron Mountain’s current Amsterdam campus
Iron Mountain now markets its Amsterdam data center campus as AMS-1 in Haarlem, approximately 20 km from Amsterdam. Its English-language AMS-1 page describes 13.1 MW of current power capacity, another 10 MW in development, and 43.1 MW at full build-out. It also lists a 23-acre campus and more than 60 on-site carriers. These are current company descriptions and should not be substituted for the two-location capacities disclosed in the 2018 transaction announcement.
The company’s Dutch-language AMS-1 page gives a different expansion schedule: 10 MW expected in 2027 and an additional 20 MW expected in 2028. That schedule differs from what might be inferred from the English-language page’s stated development capacity and full-build-out total. The company pages do not establish that the differing plans have been independently confirmed or reconciled.
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