Data Storage acquires majority e-ternity stake

Cloud storage and cloud computing provider Data Storage Corporation this week revealed that it has acquired 80% of business continuance service provider e-ternity Business Continuity Consultants, Web Host Industry Review reports.

The cash and stock transaction was approved by e-ternity's shareholders. The terms of the deal were not disclosed.

Based in Toronto, e-ternity was founded in 2004. It provides business continuity management services including disaster recovery, high availability technology services and cloud computing services to customers in the financial, manufacturing, professional services and technology sectors.

After the acquisition, e-ternity will function as an autonomous division of Data Storage Corporation, MSP News notes.

In a release, Chuck Piluso, chairman and CEO, Data Storage Corporation, says: “The acquisition of e-ternity and its core cloud computing offering is an ideal complement to Data Storage Corporation's hosted data protection services.

“When finalised, this acquisition is expected to immediately contribute to the continued growth of our business by providing us with greater access to the IaaS market, one growing at an estimated CAGR of 52% while building upon our Safedata Asset acquisition, which established our position in the IBM market.

“Looking ahead, we see a number of attractive acquisition opportunities in the high-growth IaaS market, all part of our business plan to continue positioning Data Storage Corporation as a leader in cloud computing and data storage technology services.”