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Arcapita pays $430m for PODS

Bahrain's Arcapita has completed the acquisition of the US based Portable On-Demand Storage (PODS) for approximately $430m, reported the Bahrain Tribune. The firm has a network right across the US while it also has a presence in Canada and Australia. PODS' revenues have increased from $61m in 2004 to $215m last year, an average growth rate of 52%.