• 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.

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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.

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