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 announced in a press release on Wednesday.
Financial details of the transaction were not disclosed.
The deal will integrate Storj’s distributed storage and compute capabilities into Inveniam’s data mining and orchestration platform for private markets, the company said.
Storj will continue to operate as a standalone subsidiary, with no immediate changes in service contracts, pricing or management.
“Storj’s unique technology is a critical part of Inveniam’s mission,” Patrick O’Meara, Inveniam’s president and CEO, said in the release.
“We are particularly excited to integrate the STORJ token into our ecosystem, which will enable greater utility and alignment across our platforms,” he added.
STORJ was down 18% in 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 an integral part of the platform, continuing to support the Storj ecosystem. All customer, vendor and community relationships, including those related to its storage, GPU and Petagene businesses, will remain in place, Inveniam said.
Learn more: Crypto-based cloud storage platform Storj promotes Colby Winegar to CEO
