Data Storage Corporation Secures Expanded Contract Servicing a Billion Dollar Insurance Company
Data Storage (Nasdaq: DTST) announced that its subsidiary, CloudFirst, has secured an expanded agreement through its infrastructure partner, servicing a billion-dollar insurance company. The client, already using DSC's security services for their IBMi system, has now opted to enhance their disaster recovery capabilities by moving to a fully managed hosted target system.
The expanded agreement includes cloud backup, backup management, and replication management services. This solution allows the client to avoid the cost of acquiring new hardware while benefiting from DSC's fully managed services, ensuring continuous monitoring, backup, and support for maximum uptime and security.
Hal Schwartz, President of CloudFirst, emphasized the company's role as a trusted partner for sensitive data. Chuck Piluso, CEO of Data Storage , highlighted the collaboration with infrastructure partners to create seamless solutions, particularly utilizing DSC's IBM Power Cloud expertise.
Data Storage (Nasdaq: DTST) ha annunciato che la sua filiale, CloudFirst, ha ottenuto un contratto ampliato attraverso il suo partner infrastrutturale, servendo una compagnia di assicurazioni da un miliardo di dollari. Il cliente, già utilizzando i servizi di sicurezza di DSC per il proprio sistema IBMi, ha ora scelto di migliorare le proprie capacità di disaster recovery trasferendosi a un sistema target completamente gestito e ospitato.
Il contratto ampliato include i servizi di backup nel cloud, gestione dei backup e gestione della replica. Questa soluzione consente al cliente di evitare il costo di acquisizione di nuovo hardware beneficiando dei servizi completamente gestiti da DSC, garantendo monitoraggio continuo, backup e supporto per massimizzare il tempo di attività e la sicurezza.
Hal Schwartz, Presidente di CloudFirst, ha sottolineato il ruolo dell'azienda come partner fidato per dati sensibili. Chuck Piluso, CEO di Data Storage, ha messo in evidenza la collaborazione con i partner infrastrutturali per creare soluzioni senza soluzione di continuità, in particolare sfruttando l'esperienza di DSC nel Power Cloud IBM.
Data Storage (Nasdaq: DTST) anunció que su subsidiaria, CloudFirst, ha asegurado un acuerdo ampliado a través de su socio de infraestructura, sirviendo a una compañía de seguros de mil millones de dólares. El cliente, que ya utiliza los servicios de seguridad de DSC para su sistema IBMi, ha optado ahora por mejorar sus capacidades de recuperación de desastres al trasladarse a un sistema objetivo completamente gestionado y alojado.
El acuerdo ampliado incluye servicios de respaldo en la nube, gestión de respaldos y gestión de replicación. Esta solución permite al cliente evitar el costo de adquirir nuevo hardware, mientras se beneficia de los servicios totalmente gestionados de DSC, asegurando monitoreo continuo, respaldo y soporte para maximizar el tiempo de actividad y la seguridad.
Hal Schwartz, Presidente de CloudFirst, enfatizó el papel de la compañía como un socio de confianza para datos sensibles. Chuck Piluso, CEO de Data Storage, destacó la colaboración con socios de infraestructura para crear soluciones integradas, utilizando especialmente la experiencia en IBM Power Cloud de DSC.
Data Storage (Nasdaq: DTST)는 자회사인 CloudFirst가 인프라 파트너를 통해 확대된 계약을 체결했다고 발표했습니다. 이는 10억 달러 규모의 보험 회사를 지원하는 것입니다. 이미 DSC의 보안 서비스를 IBMi 시스템에 사용하고 있는 고객은 이제 재해 복구 능력을 향상시키기 위해 완전 관리되는 호스팅 타겟 시스템으로 전환하기로 선택했습니다.
확대된 계약에는 클라우드 백업, 백업 관리, 복제 관리 서비스가 포함됩니다. 이 솔루션은 고객이 새로운 하드웨어를 구입하는 비용을 피할 수 있게 해주며, DSC의 완전 관리 서비스 혜택을 누리면서 최대 가동 시간과 보안을 보장하기 위해 지속적인 모니터링과 백업, 지원을 제공합니다.
CloudFirst의 회장 Hal Schwartz는 민감한 데이터에 대한 신뢰할 수 있는 파트너로서의 회사의 역할을 강조했습니다. Data Storage의 CEO인 Chuck Piluso는 DSC의 IBM Power Cloud 전문성을 활용하여 매끄러운 솔루션을 만들기 위해 인프라 파트너와의 협력을 강조했습니다.
Data Storage (Nasdaq: DTST) a annoncé que sa filiale, CloudFirst, a sécurisé un accord élargi par le biais de son partenaire infrastructure, servant une compagnie d'assurance d'un milliard de dollars. Le client, qui utilise déjà les services de sécurité de DSC pour son système IBMi, a maintenant choisi de renforcer ses capacités de récupération après sinistre en passant à un système cible totalement géré et hébergé.
L'accord élargi comprend des services de sauvegarde cloud, gestion des sauvegardes et gestion de la réplication. Cette solution permet au client de éviter le coût d'acquisition de nouveau matériel tout en bénéficiant des services entièrement gérés de DSC, garantissant une surveillance continue, des sauvegardes et un support pour une disponibilité maximale et une sécurité accrue.
Hal Schwartz, Président de CloudFirst, a souligné le rôle de l'entreprise en tant que partenaire de confiance pour les données sensibles. Chuck Piluso, PDG de Data Storage, a mis en avant la collaboration avec des partenaires d'infrastructure pour créer des solutions homogènes, en utilisant notamment l'expertise de DSC en matière de cloud IBM Power.
Data Storage (Nasdaq: DTST) gab bekannt, dass seine Tochtergesellschaft CloudFirst über ihren Infrastrukturpartner einen erweiterten Vertrag gesichert hat, der eine Versicherungsgesellschaft im Milliardenbereich bedient. Der Kunde, der bereits die Sicherheitsdienste von DSC für sein IBMi-System nutzt, hat sich nun entschieden, um ihre Katastrophenschutzfähigkeiten zu verbessern und auf ein vollständig verwaltetes gehostetes Zielsystem zu wechseln.
Der erweiterte Vertrag umfasst Cloud-Backup, Backup-Management und Replikationsmanagement-Dienste. Diese Lösung ermöglicht es dem Kunden, die Kosten für den Erwerb neuer Hardware zu vermeiden, während er von den vollständig verwalteten Diensten von DSC profitiert, die kontinuierliche Überwachung, Backup und Unterstützung für maximale Betriebszeit und Sicherheit gewährleisten.
Hal Schwartz, Präsident von CloudFirst, betonte die Rolle des Unternehmens als vertrauenswürdiger Partner für sensible Daten. Chuck Piluso, CEO von Data Storage, hob die Zusammenarbeit mit Infrastrukturpartnern hervor, um nahtlose Lösungen zu schaffen, insbesondere unter Nutzung von DSCs IBM Power Cloud-Expertise.
- Secured expanded agreement with a billion-dollar insurance company
- Offering fully managed hosting solution including cloud backup and replication management
- Enabling client to avoid costs of new hardware acquisition
- Demonstrating ability to collaborate with infrastructure partners for comprehensive solutions
- None.
Insights
This expanded contract with a billion-dollar insurance company marks a significant win for Data Storage The client's decision to upgrade from security services to a fully managed hosted target system demonstrates increased trust and potential for upselling within large enterprises. The move to a hosted solution offers several advantages:
- Cost savings for the client by avoiding new hardware purchases
- Improved disaster recovery capabilities
- Enhanced data continuity through cloud backup and replication management
From an investor's perspective, this deal showcases DTST's ability to expand its service offerings and deepen relationships with high-value clients. The collaboration with infrastructure partners also highlights DTST's strategic position in providing specialized IBM Power Cloud solutions, potentially opening doors to more cross-selling opportunities. While the financial terms aren't disclosed, the contract's expansion suggests positive revenue growth and increased market penetration in the insurance sector.
This contract expansion is a positive development for Data Storage (DTST), particularly given its relatively small market cap of
- Revenue Growth Potential: Expanding services with a billion-dollar client likely translates to meaningful revenue increases, though exact figures aren't provided.
- Margin Improvement: Fully managed hosting solutions typically offer higher margins compared to basic security services, potentially boosting profitability.
- Recurring Revenue: The nature of cloud and managed services suggests a stable, recurring revenue stream, which investors generally value highly.
While the immediate financial impact may be , this deal demonstrates DTST's ability to compete and grow in the enterprise market. It could serve as a catalyst for attracting similar large-scale clients, potentially driving significant long-term value. Investors should monitor future earnings reports for quantifiable impacts on revenue and profit margins resulting from this and similar deals.
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.
Contact:
Crescendo Communications, LLC
212-671-1020
DTST@crescendo-ir.com
FAQ
What new services did Data Storage (DTST) secure in the expanded contract?
How does the expanded agreement benefit the billion-dollar insurance company client of DTST?
What specific expertise does Data Storage (DTST) bring to this expanded agreement?
How does this expanded agreement demonstrate Data Storage 's (DTST) business strategy?
