Shares of Everpure Inc (NYSE:PSTG) declined 5.9% on Monday after the company disclosed a corporate rebrand and a planned acquisition aimed at expanding its data-management footprint.
The Santa Clara, California-based data storage firm said it will adopt the Everpure name to better represent its transition from pure storage offerings to broader data management services. The company confirmed it will start trading under the Everpure name on the New York Stock Exchange on March 5, while maintaining the PSTG ticker symbol.
In the same announcement, the company said it has entered into a definitive agreement to acquire 1touch, a data intelligence and orchestration provider that offers enterprises a unified view of their information. According to the release, the acquisition will add capabilities for data discovery and semantic context to Everpure’s platform, enabling the company to discover, classify, contextualize, and enrich data across datasets and environments.
"Everpure reflects the company we have become as we help enterprises unleash the full power of their data," said Charles Giancarlo, CEO of Everpure. "With 1touch, we are taking the next step in helping organizations not only gain control of their most valuable asset - data - but also understand, enhance, and contextualize that data for actionable intelligence."
The announcement reiterated that the transaction is subject to customary closing conditions and is expected to close in the second quarter of fiscal year 2027. The company did not disclose financial terms of the deal.
Everpure described the acquisition as an extension of its Enterprise Data Cloud architecture, a model the company says transforms storage into a unified, virtualized cloud of data managed through an intelligent control plane. The company positioned the move as a step toward integrating data discovery and semantic context into that platform.
Market reaction was immediate: the stock moved lower on the day of the announcement, with a 5.9% decline recorded on Monday. Beyond the share movement, the company did not provide additional financial details or previously undisclosed timing for integration work tied to 1touch.
Context and next steps
Investors and market participants will observe the customary closing process and the company’s integration of 1touch capabilities into its Enterprise Data Cloud. The planned name change will take effect in trading on March 5, while the PSTG ticker will remain in place.