Data Storage Corporation Completes Sale of CloudFirst Business

Data Storage Corporation (DSC) has completed the sale of its CloudFirst business 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, generating approximately $40 million in gross proceeds, with estimated net proceeds of $24 million after fees, taxes, and adjustments. The sale includes substantially all of the assets held by CloudFirst Technologies Corporation, a wholly-owned subsidiary of DSC. The company plans to use the proceeds to support targeted acquisitions and investments in areas aligned with digital infrastructure, including AI-enabled software, GPU technologies, and cybersecurity. DSC will continue operating its telecommunications subsidiary, Nexxis, Inc. The CloudFirst brand, leadership team, and service model will remain intact under Performive, with no expected changes to client relationships, staffing, or service delivery.