Data Storage Corporation, announced it has completed the previously announced sale of its CloudFirst business (“CloudFirst”), comprised of substantially all of the assets held by CloudFirst Technologies Corporation, a wholly-owned subsidiary of the Company, to Performive, a cloud infrastructure provider backed by Renovus Capital Partners. The transaction, approved by shareholders on September 10, 2025, closed on September 11, 2025, and generated approximately $40 million in gross proceeds, with estimated net proceeds of $24 million after fees, taxes, and adjustments.

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The Company plans to use proceeds to support targeted acquisitions and investments in areas aligned with digital infrastructure, including artificial intelligence (“AI”)-enabled software, graphics processing unit (“GPU”) technologies, and cybersecurity. DSC will also continue operating Nexxis, Inc., its telecommunications subsidiary.

While the Company has identified key sectors of interest, it remains open to opportunities that offer recurring revenue and long-term shareholder value.

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“With the CloudFirst transaction complete, we are in a stronger position to evaluate and execute targeted acquisitions,” said Chuck Piluso, CEO of Data Storage Corporation. “We will take a disciplined approach to investing in infrastructure and software businesses that align with our operating capabilities and offer recurring revenue potential.”

About Data Storage Corporation
Data Storage Corporation (Nasdaq: DTST) focuses on investing in and supporting businesses in GPU Infrastructure-as-a-Service (IaaS), AI-driven software applications, cybersecurity, and voice/data telecommunications. The Company’s goal is to build recurring revenue streams while maintaining operational discipline.

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Source: globenewswire

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