Data Storage Signs Agreement to Sell Subsidiary; Shares Rise Premarket-February 2024-www.financetom.com

Data Storage Signs Agreement to Sell Subsidiary; Shares Rise Premarket

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Data Storage Signs Agreement to Sell Subsidiary; Shares Rise Premarket

Jul 16, 2025 2:32 AM

05:18 AM EDT, 07/16/2025 (MT Newswires) -- Data Storage ( DTST ) said late Tuesday it struck a deal to sell its subsidiary, CloudFirst Technologies, to Performive.

The sale is subject to shareholder approval at Data Storage's ( DTST ) annual meeting on Sept. 10.

The move aims to enable Data Storage ( DTST ) to repurchase up to 85% of its outstanding shares and reinvest in high-growth verticals, the company said.

Performive is a cloud services provider backed by private equity firm Renovus Capital Partners.

Data Storage ( DTST ) shares gained 37% in premarket activity on Wednesday.

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