Iron Mountain buys Stratify

Iron Mountain Inc., a provider of information protection and storage services for electronic data, today said it agreed to buy Stratify Inc. for about $158 million in cash.

Stratify, based in Mountain View, Calif., develops software and provides services for reviewing electronic documents. The services are used by companies that are involved in legal or regulatory inquiries that require them to go back over past company documents.

Iron Mountain said the acquisition will boost its "eDiscovery" services, which help companies manage paper and digital information for discovery and data investigations.

Also today, Iron Mountain raised its revenue projections for 2007.

The company expects the deal to close by the end of the year, pending regulatory approval. (AP)