In a move that underscores the growing convergence of decentralized infrastructure and enterprise AI, Inveniam Capital Partners has signed a definitive agreement to acquire Storj, a long-time player in decentralized cloud storage, the company said in a press release Wednesday.
Financial details of the transaction were not disclosed.
The deal will integrate Storj’s compute and distributed storage capabilities into Inveniam’s data orchestration and operations platform for private markets, the company said.
Storj will continue to operate as an independent subsidiary, with no immediate changes to service contracts, pricing or leadership.
“Storj’s unique technology is critical to Inveniam’s mission,” Patrick O’Meara, president and CEO of Inveniam, said in the release.
“We are particularly excited to integrate the STORJ token into our ecosystem, driving greater utility and alignment across all of our platforms,” he added.
STORJ is down 18% in the last 24 hours, trading around $0.18.
Storj CEO Colby Winegar will continue to lead the subsidiary and CEO Ben Golub will join Inveniam’s board of directors.
The STORJ token will remain part of the platform and continue to support the Storj ecosystem. All relationships with customers, suppliers and the community, including those linked to its storage, GPU and Petagene businesses, will remain in place, Inveniam said.
Read more: Cryptocurrency-Backed Cloud Storage Platform Storj Promotes Colby Winegar to CEO
