trending Market Intelligence /marketintelligence/en/news-insights/trending/29dGTPm13PnL_hxUtZRTuQ2 content esgSubNav
In This List

Report: Credit Suisse sells 2 data centers to Iron Mountain

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Report: Credit Suisse sells 2 data centers to Iron Mountain

Credit Suisse Group AG agreed to sell its data centers in London and Singapore to U.S. records and data management firm Iron Mountain and also signed a long-term leasing agreement for part of the centers' services, finews.ch reported Oct. 9.

Out of the 14 megawatt capacity of the two centers, the Swiss banking groups needs to use around 4.2 megawatt. The total transaction value, including the leasing agreement, amounts to $100 million.

Data centers are especially valuable to banks, which need to ensure customer data is securely stored and protected. Swiss banking group UBS Group AG spent about CHF40 million on a London-based data center about two years ago, according to the report.