Data Storage Corporation (Nasdaq: DTST) has announced a definitive agreement to sell the assets of its wholly owned subsidiary, CloudFirst Technologies Corporation. The transaction aims to accelerate CloudFirst's growth under new ownership while exploring strategic opportunities to enhance shareholder value for Data Storage. Subject to customary closing conditions and shareholder approval at the upcoming annual meeting on September 10, 2025, the transaction will allow CloudFirst to remain unchanged in operations and leadership, with added strategic backing for continued growth. CEO Chuck Piluso emphasized the confidence in CloudFirst's future and the opportunity to pursue strategic growth in high-growth sectors using the proceeds.
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