Data Storage Corp. buys ABC Services in stock deal
Data Storage Corp., a publicly traded provider of data recovery and compliance services, has acquired its Melville neighbor, ABC Services Inc., in a stock deal, Data Storage CEO Charles Piluso said Wednesday.
The acquisition creates a 30-person company with estimated combined revenue, based on unaudited financials, of $9 million to $9.5 million, Piluso said.
The deal, which closed Oct. 25, called for Data Storage to pay 64.7 million shares for the assets of ABC Services, according to Securities and Exchange Commission documents. Piluso, who declined to put a dollar value on the transaction, said the deal also included a 50-50 joint venture the two companies owned and assumption of ABC’s debt.
Data Storage’s offices are at 68 S. Service Rd. and those of ABC, which integrates servers for data centers and cloud services, are at 48 S. Service Rd.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
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