Data Storage Corporation expands its partnership with Megaport in the UK, enhancing cloud connectivity and infrastructure services.
Quiver AI Summary
Data Storage Corporation (DSC) has announced the expansion of its subsidiary, CloudFirst Europe, into the UK through a partnership with Megaport. This move enhances CloudFirst's capabilities by utilizing Megaport's Network as a Service platform, “Direct Connect,” which offers secure and high-performance access to leading cloud providers such as AWS. The collaboration will enable CloudFirst to strengthen its IBMi Power Hosting and Infrastructure as a Service offerings and improve connectivity without public internet involvement. The partnership is expected to create cross-selling opportunities and help businesses modernize their IT infrastructure by providing seamless hybrid and multi-cloud solutions. Colin Freeman, Managing Director of CloudFirst Europe, emphasized the commitment to delivering innovative data services in response to increasing market demand.
Potential Positives
- Expansion into the UK marks a significant milestone in Data Storage Corporation's global growth strategy.
- Collaboration with Megaport enables enhanced infrastructure offerings through secure, high-performance connectivity, addressing latency and bottleneck issues.
- Partnership provides cross-selling opportunities, enhancing client access to integrated network environments with leading cloud platforms.
- Alignment with the growing demand for hybrid and multi-cloud infrastructure solutions positions CloudFirst as a trusted partner for enterprises modernizing their IT infrastructure.
Potential Negatives
- The press release includes extensive forward-looking statements, highlighting the uncertainty and risks associated with the company’s ability to grow its presence in Europe, which could indicate potential operational challenges.
- The emphasis on the partnership with Megaport suggests reliance on third-party infrastructure, which may expose the company to risks related to the performance and stability of these external services.
- While the announcement describes a significant milestone, the lack of specific metrics or tangible results from the expansion may raise questions about the actual impact on the company's overall performance.
FAQ
What is the recent partnership announced by Data Storage Corporation?
Data Storage Corporation's subsidiary, CloudFirst Europe, has expanded its partnership with Megaport into the UK, enhancing its global presence.
How does the partnership with Megaport benefit CloudFirst Europe?
The partnership allows CloudFirst to use Megaport’s “Direct Connect” for secure, high-performance connectivity to top-tier cloud providers like AWS.
What services does Data Storage Corporation provide?
Data Storage Corporation offers multi-cloud hosting, managed cloud services, disaster recovery, cybersecurity, IT automation, and data migration solutions.
Why is hybrid cloud infrastructure demand increasing?
The rise in hybrid cloud infrastructure demand is driven by enterprises modernizing their IT and adopting flexible cloud strategies for operational efficiency.
How many data centers does Data Storage Corporation operate?
Data Storage Corporation operates 11 data centers across the United States, Canada, and the United Kingdom to support its cloud services.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$DTST Insider Trading Activity
$DTST insiders have traded $DTST stock on the open market 4 times in the past 6 months. Of those trades, 0 have been purchases and 4 have been sales.
Here’s a breakdown of recent trading of $DTST stock by insiders over the last 6 months:
- CHRISTOS PANAGIOTAKOS (Chief Financial Officer) sold 2,304 shares for an estimated $9,745
- CHARLES M. PILUSO (Chairman and CEO) sold 2,048 shares for an estimated $8,663
- HAROLD J SCHWARTZ (President) sold 1,593 shares for an estimated $6,738
- THOMAS KEMPSTER (EVP) sold 1,593 shares for an estimated $6,738
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$DTST Hedge Fund Activity
We have seen 10 institutional investors add shares of $DTST stock to their portfolio, and 11 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- RENAISSANCE TECHNOLOGIES LLC added 56,199 shares (+62.5%) to their portfolio in Q3 2024, for an estimated $211,870
- AMERITAS ADVISORY SERVICES, LLC removed 46,300 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $174,551
- OSAIC HOLDINGS, INC. removed 33,350 shares (-96.8%) from their portfolio in Q3 2024, for an estimated $125,729
- HILLTOP HOLDINGS INC. added 19,490 shares (+inf%) to their portfolio in Q3 2024, for an estimated $73,477
- DIMENSIONAL FUND ADVISORS LP added 16,495 shares (+136.3%) to their portfolio in Q3 2024, for an estimated $62,186
- ACADIAN ASSET MANAGEMENT LLC removed 14,637 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $55,181
- ROYAL BANK OF CANADA removed 14,600 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $55,042
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
MELVILLE, N.Y., Jan. 23, 2025 (GLOBE NEWSWIRE) -- Data Storage Corporation (Nasdaq: DTST) (“DSC” and the “Company”), a leading provider of multi-cloud hosting, managed cloud services, disaster recovery, cybersecurity, and IT automation, that integrates with AWS, Microsoft Azure, and Google Cloud, today announced that its subsidiary, CloudFirst Europe, has expanded its partnership with
Megaport
into the UK, marking a significant milestone in its global expansion strategy.
Building upon a successful relationship in North America, this expansion enables CloudFirst to leverage Megaport’s Network as a Service platform, “Direct Connect”, which simplifies access to top-tier cloud providers and hyperscalers such as AWS through secure, high-performance connectivity. As part of the partnership, CloudFirst Europe will deploy infrastructure within Megaport's ecosystem of data centers and leverage its global private connectivity solutions to strengthen CloudFirst’s IBMi Power Hosting and Infrastructure as a Service offerings. With “Direct Connect,” network traffic remains on the Company’s global network and therefore never touches the public internet, eliminating bottlenecks and latency issues. This positions CloudFirst as a trusted partner for enterprises modernizing their IT infrastructure and adopting CloudFirst and hybrid cloud strategies, aligning with growing market demand and IBM’s upcoming system updates. The collaboration with Megaport will also provide cross-selling opportunities, offering clients access to a fully integrated network environment that connects on-premises systems with leading cloud platforms.
“This partnership demonstrates our commitment to providing businesses with seamless, secure, and scalable data solutions,” said Colin Freeman, Managing Director of CloudFirst Europe. “Our success lies in working alongside our partners, building on their established relationships and expertise to offer a seamless experience to end users. The demand for hybrid and multi cloud infrastructure solutions has never been higher, and we’re here to deliver innovative services that capitalize on this momentum.”
About Data Storage Corporation
Data Storage Corporation (Nasdaq: DTST) through its subsidiaries is a leading provider of multi-cloud hosting, fully managed cloud services, disaster recovery, cybersecurity, IT automation, and voice & data solutions. Recognizing that data migration is a critical step in transitioning from on-premises systems to the cloud, DTST provides comprehensive migration services to ensure seamless, secure, and efficient data transfer, minimizing downtime and optimizing performance.
Through its CloudFirst platform, built on IBM Power Cloud infrastructure, DTST delivers high-performance, scalable, and secure cloud solutions with interoperability across its infrastructure partners, AWS, Microsoft Azure, and Google Cloud.
With 11 data centers supporting cloud platform deployments across the United States, Canada, and the United Kingdom, DTST provides mission-critical cloud services to a diverse clientele, including Fortune 500 companies, government agencies, educational institutions, and healthcare organizations.
As a leader in the multi-billion-dollar cloud hosting and business continuity market, DTST is recognized for its expertise in cloud infrastructure, IT modernization, and data migration, enabling clients to transition to the cloud with confidence and operational continuity.
For more information, please visit
www.dtst.com
or follow us on X @DataStorageCorp.
Safe Harbor Provision
This 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. 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 grow its presence in Europe. 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, 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, LLC
212-671-1020
DTST@crescendo-ir.com
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
