In a move that underscores the growing convergence of decentralized infrastructure and enterprise AI, Inveniam Capital Partners has signed a definitive agreement to acquire Storj, a long-time player in decentralized cloud storage, the company said in a press release Wednesday.

Financial details of the transaction were not disclosed.

The deal will fold Storj’s distributed storage and compute capabilities into Inveniam’s data operating and orchestration platform for private markets, the company said.

Storj will continue operating as a standalone subsidiary, with no immediate changes to service contracts, pricing or leadership.

“Storj’s unique technology is a critical enabler of Inveniam’s mission,” said Patrick O’Meara, chairman and CEO of Inveniam, in the release.

“We’re particularly excited to integrate the STORJ token into our ecosystem, driving greater utility and alignment across our platforms," he added.

STORJ was 18% lower over the last 24 hours, trading around $0.18.

Storj CEO Colby Winegar will continue to lead the subsidiary, and Executive Chair Ben Golub will join Inveniam’s board.

The STORJ token will remain part of the platform, continuing to support Storj’s ecosystem. All customer, supplier, and community relationships, including those tied to its storage, GPU, and Petagene businesses, will remain in place, Inveniam said.

Read more: Crypto-Backed Cloud-Storage Platform Storj Promotes Colby Winegar to CEO