JSE-listed document management specialist Metrofile has acquired IronTree Internet Services from the founding shareholders.
The deal seeks to strengthen Metrofile’s progression into digital information storage and cyber security.
According to a statement, the acquisition was driven by the shift to online services during the pandemic, and the rise of cyber attacks – with an estimated 350 000 new viruses released per day on average.
Cape Town-headquartered IronTree provides data management services, including cloud backup, disaster recovery and specialised server hosting in a private cloud.
It also offers customers cyber crime, business continuity and privacy law compliance management consultation services.
With an almost 40-year history in managing information for businesses across Africa and the UAE, Metrofile manages customer needs from physical storage, to backup, disaster recovery, cyber security and specialised virtual private server hosting, as well as compliance with information management.
Metrofile says while paper-based document management remains a central pillar of securing content, the pandemic has meant that more documents are now originated, signed digitally, and then stored, indexed and archived in cyberspace.
“We are bolstering our current digital services offering due to the seismic shift we have seen within the last year-and-a-half, and Metrofile’s commitment to remain one step ahead in the coming years,” says Pfungwa Serima, CEO of Metrofile.
“More businesses are creating more digital data than ever before, in multiple formats and through a vast landscape of online channels. With this comes a responsibility to deliver the highest quality of security to protect this electronic information and manage the associated risks. Businesses need the most advanced and safest solution. There is no alternative,” explains Serima.
In 2017, Metrofile acquired Kenya-based G4S Secure Data Solutions in a deal worth up to 2.1 billion Kenyan shillings (about R281.4 million).
The transaction, according to the company, was part of its strategy to increase its footprint in Africa and provide it with an expanded international client base, and local expertise in the records management industry.
Metrofile says its technology can rapidly scan via optical character recognition and convert paper-based files into digital data, which can be stored and classified using automation, making the data easy to access and retrieve.
The IronTree deal will enable clients to prevent disasters that could impact their organisations, and manage their systems and data effectively within a legal framework, it adds.
David Lees, founder of IronTree, points out: "There's a huge responsibility on any business operating digitally to protect personal information, documents and data from a regulatory perspective.
“For a respected brand like Metrofile, we are a perfect fit, with a 14-year track record to complement their current digital services. Our cyber security suite, SecureIT, will comprehensively prevent and protect against cyber crime. In addition, we can provide business continuity, which is a necessity."
Metrofile currently covers 117 411 square metre warehouse space in 68 facilities at 36 locations across Africa and the Middle East.
“We have an extensive base of clients who do not only need document storage, but they are also looking for a trusted partner that can deliver the most intelligent approach to protect data in an efficient, cost-effective and compliant way.
“This latest acquisition is a continuation of how we have chosen to invest in solutions that support customers in adhering to legislative regulations. With IronTree, we are adding best-in-class-expertise to give our clients certainty and continuity for all digital eventualities," adds Serima.
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