Everpure stock price drops after rebranding from Pure Storage

Investing.com – Everpure Inc (NYSE:PSTG) stock fell 5.9% on Monday after the company announced it would change its name from Pure Storage and signed an agreement to acquire data intelligence company 1touch.

The data storage company, headquartered in Santa Clara, California, said the rebranding to Everpure reflects its evolution from storage solutions to broader data management capabilities. The company will begin trading under the new name on the New York Stock Exchange starting March 5, but its stock ticker PSTG will remain unchanged.

Everpure announced it has signed a definitive agreement to acquire 1touch, a company specializing in data intelligence and orchestration that provides a unified view of information for enterprises. This acquisition will add data discovery and semantic context features 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 — helping enterprises unlock the full potential of their data,” said Everpure CEO Charles Giancarlo. “With the acquisition of 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 to derive actionable insights.”

The deal is subject to customary closing conditions and is expected to be completed in the second quarter of fiscal year 2027. Financial terms of the acquisition were not disclosed.

The company said the acquisition expands its enterprise data cloud architecture, transforming storage into a unified virtualized data cloud managed through an intelligent control plane.

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