Monday, 11 Aug 2025
  • About Us
  • Contact Us
  • Terms and Conditions
  • Privacy Policy
Subscribe
Life Care News
  • Home
  • Business
    • Business Wire
    • Globenews Wire
  • News
    NewsShow More
    HR Path Strengthens Global Presence with Strategic Acquisition of PredictiveHR
    11/08/2025
    Manulife to Acquire Comvest Credit Partners, Creating a Leading Private Credit Platform
    Manulife to Acquire Comvest Credit Partners, Creating a Leading Private Credit Platform
    10/08/2025
    Bybit Crypto Insights Report: Everything You Need to Know About Project Crypto
    Bybit Crypto Insights Report: Everything You Need to Know About Project Crypto
    10/08/2025
    MiTAC Computing Partners with Industry Leaders on Open AI Server Solutions at OCP APAC Summit 2025
    MiTAC Computing Partners with Industry Leaders on Open AI Server Solutions at OCP APAC Summit 2025
    09/08/2025
    NOTICE OF SETTLEMENT APPROVAL
    NOTICE OF SETTLEMENT APPROVAL
    09/08/2025
  • Tech
  • Health
  • Sports
  • Entertainment
  • Automobile
  • 🔥
  • news
  • june
  • july
  • global
  • Business
  • today
  • announced
  • Tech
  • company
  • will
Font ResizerAa
Life Care NewsLife Care News
  • Home
  • Business
  • News
  • Tech
  • Health
  • Sports
  • Entertainment
  • Automobile
Search
  • Home
  • Business
    • Business Wire
    • Globenews Wire
  • News
  • Tech
  • Health
  • Sports
  • Entertainment
  • Automobile
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Tech

CloudFirst to Join Performive in Strategic Growth Transaction

GlobeNews Wire
Last updated: 16/07/2025 2:20 AM
GlobeNews Wire
Share
8 Min Read
CloudFirst to Join Performive in Strategic Growth Transaction
SHARE
CloudFirst to Join Performive in Strategic Growth Transaction

Data Storage Subsidiary Sale Subject to Shareholder Approval

July 15, 2025 16:45 ET  | Source: Data Storage Corp.

MELVILLE, N.Y., July 15, 2025 (GLOBE NEWSWIRE) — Data Storage Corporation (Nasdaq: DTST) (the “Company”) today announced that on July 11, 2025 it entered into a definitive agreement to sell the assets of the business of its wholly owned subsidiary, CloudFirst Technologies Corporation. The goal of this transaction is to continue to accelerate CloudFirst’s growth with a new purchaser, while exploring strategic opportunities for the Company that enhance shareholder value. The transaction is subject to customary closing conditions and approval by Data Storage Corporation’s shareholders at its annual meeting of shareholders scheduled for September 10, 2025.

Under the terms of the agreement, CloudFirst will join Performive, a cloud and infrastructure services provider backed by Renovus Capital Partners, a private equity firm. CloudFirst will continue to market its services under its well-established brand, the CloudFirst leadership team will remain in place, and CloudFirst will maintain its renowned support and account management teams. The Company expects continuity throughout the approval process and beyond.

If the transaction is approved by the Company’s shareholders, Data Storage expects that it will retain its public listing and continue to operate Nexxis Inc., a provider of telecommunications and data services. Assuming shareholder approval and closing of the transactions, the Company is planning to use the proceeds together with certain other cash on hand in connection with a tender offer to repurchase up to 85% of its outstanding shares.  Data Storage intends to use the funds remaining in the Company following the tender offer to pursue strategic growth through acquisitions in high-growth sectors, including, but not limited to, AI-enabled SaaS, cybersecurity, and healthcare automation.

Chuck Piluso, CEO of Data Storage Corporation, commented, “This agreement highlights the long-term value CloudFirst has created and reflects confidence in the future. While the transaction remains subject to shareholder approval, operations at CloudFirst remain unchanged, with no changes to structure or leadership. The current teams remain fully committed to delivering the high standards our clients expect and, in fact, over the past 30 days we have added staff. With the added scale and strategic backing from this transaction, we expect CloudFirst to be well-positioned for continued growth, while preserving the identity and strengths that have driven its success to date.”  

“Although we believe in the strong fundamentals and long-term potential of CloudFirst, we believe that the public markets did not adequately reflect its value. This transaction positions CloudFirst for continued growth in a private setting, while allowing Data Storage to return value to shareholders and pursue strategic opportunities in high growth sectors,” concluded Mr. Piluso.

About Data Storage Corporation

Data Storage Corporation (Nasdaq: DTST) through its subsidiaries, is focused on providing solutions that ensure business continuity, improvement in business processes, and efficiency, while striving to build shareholder value.

For more information, please visit www.dtst.com or follow us on X @DataStorageCorp.

Safe Harbor Provision

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. Forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and include statements regarding approval by the Company’s shareholders at its annual meeting scheduled for September 10th, 2025; the transaction continuing to accelerate CloudFirst’s growth and allowing the Company to explore strategic opportunities that enhance shareholder value; CloudFirst continuing to market its services under its well-established brand; the CloudFirst leadership team remaining in place; CloudFirst maintaining its renowned support and account management teams; the Company’s expectation of continuity throughout the approval process and beyond; the Company expecting to retain its public listing and continuing to operate Nexxis Inc.; the Company’s plan to use the proceeds together with certain other cash on hand in connection with a tender offer to repurchase up to 85% of its outstanding shares; the Company’s intention to use the funds remaining in the Company following the tender offer to pursue strategic growth through acquisitions in high-growth sectors; CloudFirst being well-positioned for continued growth; the transaction positioning CloudFirst for continued growth in a private setting; the transaction allowing the Company to return value to shareholders and pursue strategic opportunities in high-growth tech sectors. Important factors that could cause actual results to differ materially from current expectations include approval by the Company’s shareholders at its annual meeting scheduled for September 10, 2025; consummation of the transaction; the transaction continuing to accelerate CloudFirst’s growth and allowing the Company to explore strategic opportunities that enhance shareholder value; the Company retaining its public listing and continuing to operate Nexxis Inc.; the Company’s plan to use the proceeds together with certain other cash on hand in connection with a tender offer to repurchase up to 85% of its outstanding shares; the Company’s use of its remaining funds; the transaction positioning CloudFirst for continued growth in a private setting; and the transaction allowing the Company to return value to shareholders and pursue strategic opportunities in high-growth sectors. These risks should not be construed as exhaustive and should be read together with the other cautionary statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or otherwise.

Contact:
Crescendo Communications, LLC
212-671-1020
DTST@crescendo-ir.com

Celebrating Every Parent: Godrej L’Affaire’s New Campaign Sparks a Call To #BeAPetParent
Zealand Pharma increases its share capital as a result of the exercise of employee warrants
Brandwatch and Trajaan Partner to Bring World-Class Search Intelligence to Consumer Insights
Aon Appoints Jo Ann Jenkins to Board of Directors
HeraldEX Defines the Future with Its One-Stop Crypto Platform for Businesses
TAGGED:AdventureagreementannouncedapprovalassetsBusinesscloudfirstcompanycontinuecorpcorporationdatadefinitivedtstenteredglobegrowthjoinjulymelvillenasdaqNasdaq:DTSTNasdaq:DTSTWnewsnewswireownedperformivesellservicesshareholderssourcestoragestrategictodaytransactionUS23786R1023whollywill
Share This Article
Facebook Copy Link Print
- Advertisement -

Your Trusted Source for Accurate and Timely Updates!

Our commitment to accuracy, impartiality, and delivering breaking news as it happens has earned us the trust of a vast audience. Stay ahead with real-time updates on the latest events, trends.
FacebookLike
XFollow
PinterestPin
InstagramFollow
YoutubeSubscribe
LinkedInFollow
MediumFollow

Most Selling Products

Top Picks, Trending Now – Discover the Best Sellers!
Tecno Camon 20 Premier 5G

Tecno Camon 20 Premier 5G

Dark Welkin | 8GB RAM + 512GB Storage (Expandable RAM up to 16GB) | Industry’s 1st 50MP RGBW-Pro Camera | Segment-First 108MP Ultra-Wide Macro Lens | 6.67" 120Hz 10-bit AMOLED In-Display

iQOO Z10 Lite 5G

iQOO Z10 Lite 5G

Titanium Blue | 6GB RAM + 128GB Storage | Dimensity 6300 5G with 433K+ AnTuTu Score | Robust 6000mAh Battery | IP64 Rated + Military-Grade Shock Resistance

OnePlus 13s

OnePlus 13s

Black Velvet | 12GB RAM + 256GB Storage | Flagship Snapdragon® 8 Elite Chipset | Exceptional Battery Life in a Compact Form | Lifetime Display Warranty Included

Samsung Galaxy A55 5G

Samsung Galaxy A55 5G

Awesome Iceblue | 8GB RAM + 256GB Storage | Premium Metal Frame | 50MP OIS Main Camera with Nightography | IP67 Water & Dust Resistance | Gorilla Glass Victus+ | sAMOLED Display with Vision Booster

You Might Also Like

HIMSS and Informa Markets Partner to Accelerate Digital Health Transformation with Co-Located Conferences in Malaysia for International Healthcare Week
Health

HIMSS and Informa Markets Partner to Accelerate Digital Health Transformation with Co-Located Conferences in Malaysia for International Healthcare Week

17/06/2025
TotalEnergies Pioneers New API SQ and ILSAC GF-7 Certified Engine Oils in India
Automobile

TotalEnergies Pioneers New API SQ and ILSAC GF-7 Certified Engine Oils in India

06/08/2025
ITPO and Fairfest Media Sign MoU to Co-Organize Municipalika 2026
Travel

ITPO and Fairfest Media Sign MoU to Co-Organize Municipalika 2026

09/08/2025

Kia Announces June 2025 Global Sales Results

02/07/2025
Life Care News
Facebook Twitter Youtube Rss Medium

Life Care News:


We increase the awareness of millions of users through our news networks. We are one of the most trusted news networks in the world.

Top Categories
  • Home
  • Business
  • News
  • Tech
  • Health
  • Sports
  • Entertainment
  • Automobile
Usefull Links
  • About Us
  • Contact Us
  • Terms and Conditions
  • Privacy Policy
Copyright © 2015 – 2025 LifeCareNews Network. All Rights Reserved. LIFE CARE IS REGISTERED MAGAZINE IN RNI, NO.GUJGUJ/2015/71283
Life Care NewsLife Care News
Copyright © 2015 - 2025 LifeCareNews Network. All Rights Reserved. LIFE CARE IS REGISTERED MAGAZINE IN RNI, NO.GUJGUJ/2015/71283
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?