Subsequent Events

9 Months Ended

Sep. 30, 2013

Subsequent Events

Subsequent Events

(12) Subsequent Events

        In October 2013, in order to further enhance our existing operations in the U.S., Iron Mountain Information Management, LLC, a wholly-owned subsidiary of IMI, acquired Cornerstone Records Management, LLC and its affiliates, a national, full solution records and information-management company, in a cash transaction for a purchase price of approximately $191,000. Included in the purchase price is approximately $9,000 held in escrow to secure indemnification obligations and certain working capital adjustments.

        We are implementing a plan that calls for certain organizational realignments to advance the company's growth strategy and reduce operating costs. As a result, we recorded restructuring costs of approximately $5,000 in the third quarter of 2013. We expect to record additional restructuring costs related to this plan of approximately $25,000 in the fourth quarter of 2013. These charges primarily relate to employee severance and associated benefits.