Data Storage closes sale of CloudFirst for $40M; targets AI, GPU, cybersecurity

Data Storage Corp

Sale closed Sep 11, 2025; gross proceeds $40M; estimated net proceeds ~$24M after fees, taxes, adjustments.
Shareholders approved transaction on Sep 10, 2025 with 4,045,746 votes for, 20,930 against.
Remaining operating subsidiary Nexxis generated ~$1.1M sales in FY2024; Company plans to pursue acquisitions in AI, GPU, and cybersecurity.
Pro forma financials show net loss attributable to common stock of $(2.75M) for FY2024 and $(1.44M) for H1 2025 after removing CloudFirst.
CloudFirst brand and leadership remain intact under new owner Performive, backed by Renovus Capital.

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