Data Storage Corporation Announces Merger of its Subsidiaries, Flagship Solutions Group and CloudFirst
16 Enero 2024 - 7:30AM
Data Storage Corporation (Nasdaq: DTST) (“DSC” and the “Company”),
a provider of diverse business continuity solutions for
disaster-recovery, cloud infrastructure, cyber-security, and IT
services, today announced that it has merged its two subsidiaries,
Flagship Solutions Group (“Flagship”) and CloudFirst.
Thomas Kempster, Chief Executive Officer of Flagship, commented,
“We are excited to announce the merger of our two business units.
This strategic move brings together complementary strengths and
expertise, which should enable us to continue to streamline
operations, grow our technical teams, achieve further economies of
scale, and enhance resource allocation internally. We are confident
in our ability to leverage the vast cross-selling and upselling
opportunities across our respective customer bases and continue
delivering exceptional value to our customers. We look forward to
the journey ahead and the growth of our united company.”
Hal Schwartz, President of CloudFirst, stated,
“This combination is the culmination of extensive efforts to better
align and integrate our organization. This strategic decision to
combine Flagship and CloudFirst provides us a unified platform to
capitalize on the vast opportunities within the market and increase
customer penetration. We also expect this merger will result in
improved business efficiencies, while effectively reducing
redundant resources and expenses. By combining Flagship’s
experienced leadership team with CloudFirst, we believe we have
built a scalable organization poised for accelerated growth.”
About Data Storage CorporationData Storage
Corporation (Nasdaq: DTST) is a family of fully integrated
cloud-hosting, disaster-recovery, cyber security, and voice &
data companies, built around technical asset investments in
multiple regions, providing services to a broad range of domestic
and global customers, including Fortune 500 clients, across a wide
range of industries, such as government, education, and healthcare,
with a focus on the rapidly growing, multi-billion-dollar business
continuity market. A stable and emerging growth leader in cloud
infrastructure support, DTST companies operate regional data center
facilities across North America, sustainably servicing clients via
recurring subscription agreements. Additional information about the
Company is available at: www.dtst.com and on Twitter
(@DataStorageCorp).
Safe Harbor ProvisionThis press release
contains “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, as amended, that
are intended to be covered by the safe harbor created thereby.
Forward-looking statements are subject to risks and uncertainties
that could cause actual results, performance or achievements to
differ materially from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Statements preceded by, followed by or that otherwise
include the words “believes,” “expects,” “anticipates,” “intends,”
“projects,” “estimates,” “plans” and similar expressions or future
or conditional verbs such as “will,” “should,” “would,” “may” and
“could” are generally forward-looking in nature and not historical
facts, although not all forward-looking statements include the
foregoing. The forward-looking statements in this press release
include statements such as the merger of subsidiaries enabling the
Company to continue to streamline operations, grow its technical
teams, achieve further economies of scale and enhance resource
allocation internally, the Company’s ability to leverage the vast
cross-selling and upselling opportunities across respective
customer bases and continue delivering exceptional value to its
customers, the growth expected of the united company, the
combination providing a unified platform to capitalize on the vast
opportunities within the market and increase customer penetration,
the merger resulting in improved business efficiencies, while
effectively reducing redundant resources and expenses and the
Company having built a scalable organization poised for accelerated
growth by combining Flagship’s experienced leadership team with
CloudFirst. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, it can
provide no assurance that such expectations will prove to have been
correct. These forward-looking statements are based on management’s
expectations and assumptions as of the date of this press release
and are subject to a number of risks and uncertainties, many of
which are difficult to predict that could cause actual results to
differ materially from current expectations and assumptions from
those set forth or implied by any forward-looking statements.
Important factors that could cause actual results to differ
materially from current expectations include the Company’s ability
to continue to streamline operations, grow its technical teams,
achieve further economies of scale and enhance resource allocation
internally, the Company’s ability to leverage the cross-selling and
upselling opportunities across respective customer bases and
continue delivering exceptional value to its customers and the
Company’s ability to achieve the growth expected of the united
company and increase customer penetration. These risks should not
be construed as exhaustive and should be read together with the
other cautionary statements included in the Company’s Annual Report
on Form 10-K for the year ended December 31, 2022, subsequent
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K
filed with the Securities and Exchange Commission. Any
forward-looking statement speaks only as of the date on which it
was initially made. Except as required by law, the Company assumes
no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events, changed
circumstances or otherwise.
Contact:Crescendo Communications,
LLC212-671-1020DTST@crescendo-ir.com
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