Data Storage Corporation Secures Expanded Contract Servicing a Billion Dollar Insurance Company
MELVILLE, N.Y., Sept. 25, 2024 (GLOBE NEWSWIRE) -- 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 automation, today announced that its subsidiary, CloudFirst, has secured an expanded agreement through its infrastructure partner, servicing a billion-dollar insurance company.
The client is currently utilizing the Company's security services for their IBMi system and has now opted to enhance their disaster recovery capabilities by moving to a fully managed hosted target system. Through this agreement, Data Storage Corporation will provide a fully managed hosting solution that includes cloud backup, backup management, and replication management ensuring seamless and reliable data continuity.
Hal Schwartz, President of CloudFirst, stated, "Having served as a reliable and trusted partner for this client's sensitive data, we're honored to now expand the scope of our services within this large organization. This hosted solution enables the client to avoid the cost of acquiring new hardware while benefiting from our fully managed services, which ensure the client's systems are continuously monitored, backed up, and supported for maximum uptime and security. This agreement exemplifies our ongoing commitment to providing reliable and scalable IT solutions that meet the unique needs of our clients."
Chuck Piluso, CEO of Data Storage Corporation, commented, "This new contract demonstrates how closely we work with our infrastructure partners to create seamless solutions for clients. Our partners, that specialize in Intel and Windows platforms, turn to us for our expertise and to utilize our IBM Power Cloud. By collaborating, we're able to deliver a unique, fully managed cloud solution that benefits all parties."
About Data Storage Corporation
Data Storage Corporation (NASDAQ:DTST) is a leading provider of fully managed cloud hosting, disaster recovery, cybersecurity, IT automation, and voice & data solutions. With strategic technical investments in multiple regions, DTST serves a diverse clientele, including Fortune 500 companies, in sectors such as government, education, and healthcare. Focused on the fast-growing, multi-billion-dollar cloud hosting and business continuity market. DTST is recognized as a stable and emerging growth leader in cloud infrastructure, support and the migration of data to the cloud. Our regional data centers across North America enable us to deliver sustainable services through recurring subscription agreements.
For more information, please visit www.dtst.com or follow us on Twitter @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. The forward looking statements in this press release include statements such as continuing to grow revenue and increase profitability as the Company executes on its strategic initiatives, the consolidation of the CloudFirst and Flagship subsidiaries positioning the Company to optimize operations, leverage its technical teams, realize greater efficiencies, and improve internal resource allocation, while capitalizing on extensive cross-selling and upselling opportunities among its customer networks, the two meaningful announced contracts being just the first of many such announcements that will come from the efforts of the combined organizations, having developed a robust business strategy that we will drive growth and secure sustainable profitability while maximizing long term value for shareholders and providing meaningful updates to shareholders as developments unfold. 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 execute and advance its growth strategies. 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.
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