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 longtime player in decentralized cloud storage, the company said in a press release Wednesday.
Financial details of the transaction were not disclosed.
The deal will fold Storj’s distributed storage and computing capabilities into Inveniam’s data operations and orchestration 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 management.
“Storj’s unique technology is a critical enabler of Inveniam’s mission,” said Patrick O’Meara, chairman and CEO of Inveniam, in the release.
“We are particularly excited to integrate the STORJ token into our ecosystem, leading to greater utility and customization across our platforms,” he added.
STORJ was 18% lower over the last 24 hours, trading around $0.18.
Storj CEO Colby Winegar will continue to lead the subsidiary, and executive chairman 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 customer, supplier and community relationships, including those linked to its storage, GPU and Petagene businesses, will remain in place, Inveniam said.
Read more: Crypto-Backed Cloud-Storage Platform Storj Promotes Colby Winegar to CEO
