Data Storage Corporation announced on September 12, 2025, the completion of the previously announced sale of its CloudFirst business. The transaction, which included substantially all assets of CloudFirst Technologies Corporation, was approved by shareholders on September 10, 2025, and closed on September 11, 2025.
The sale to Performive, a cloud infrastructure provider backed by Renovus Capital Partners, generated approximately $40 million in gross proceeds, with estimated net proceeds of $24 million after fees, taxes, and adjustments. The CloudFirst brand, leadership team, and service model will remain intact under Performive, with no expected changes to client relationships, staffing, or service delivery.
Data Storage Corporation plans to utilize the 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. The company will also continue operating Nexxis, Inc., its telecommunications subsidiary, as it focuses on building recurring revenue streams and long-term shareholder value in these new high-growth sectors.
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