Iron Mountain Begins Digitization Work Under U.S. Treasury Contract; Prepares Bid For A New Long-Term Engagement For Digitalization As A Service, With An Expanded Scope And A Lengthened Contract Period Of 5-Years

Author: Benzinga Newsdesk | June 19, 2025 09:28am

Iron Mountain (NYSE:IRM), a global leader in information management services, today provided an update on its recently awarded contract by the U.S. Department of the Treasury. The company has commenced work under the award and is actively digitizing documents and leveraging its proprietary intelligent digitization solution as part of the engagement.

Earlier this week the U.S. Department of the Treasury issued a Request for Quotations (RFQ) for a new long-term engagement for digitalization as a service, with an expanded scope and a lengthened contract period of five years. If awarded, this new RFQ would incorporate the work awarded to Iron Mountain in April.

The company welcomes the opportunity to compete for this larger and longer duration contract. Having successfully completed numerous digital transformation projects for the U.S. Government, having been awarded the earlier iteration of this opportunity, and having the benefit of doing the work under its current contract, Iron Mountain believes it is well positioned to provide the U.S. Government with a superior end-to-end solution that can fully support this efficiency initiative.

The company has begun the process of responding to the RFQ and expects to submit its response before the government's July 11, 2025 deadline. In the meantime, we continue to work and be compensated under the initial award given the time criticality of the U.S. Government's requirement.

As previously disclosed, the company has not included any benefit from the Department of Treasury award in its 2025 financial guidance.

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