DPW Holdings, Inc. (NYSE American: DPW) ("DPW" or the "Company"), a
diversified holding company, announced today that one of the
Company’s subsidiaries, Coolisys Technologies, Inc., a
technology-centric company dedicated to servicing the defense and
aerospace sectors as well as industrial and medical sector
businesses worldwide has completed the acquisition of Enertec
Systems 2001 Ltd. ("Enertec"), a 22 year-old private company,
Israel’s largest private developer and manufacturer of specialized
electronic systems for the aerospace and defense markets. Enertec
generated over $8 million in annual revenue for its fiscal year
ended December 31, 2017.
Enertec is recognized for providing multi-purpose turnkey
systems designed to serve in harsh environments and battlefield
conditions. Applications and products include mission computers,
missiles launchers, command and control systems, automatic testing
systems and power supply systems. Products and solutions are
implemented in land and naval combat electronic systems, command
and control centers, simulators and missiles systems. Enertec also
provides precise calibrated solutions for medical OEMs. The
acquisition of Enertec expands Coolisys' advanced technology
development as well as its manufacturing footprint and increases
Coolisys’ capabilities with the addition of over 70 skilled
employees, most of whom are engineers with proven military
experience. Enertec was a subsidiary of Micronet Enertec
Technologies, Inc., an entity until recently listed on the Nasdaq
Capital Market ("MICT").
Commenting on the transaction, Coolisys’ President and CEO Amos
Kohn stated, "The purchase of Enertec marks a major step in
continuing to execute our acquisition growth strategy in 2018. We
are very pleased that, through this strategic acquisition, we will
realize an increase in our sales revenues, an expansion of our
customer base, and Coolisys will benefit from Enertec's innovative
technology. Additionally, Coolisys will increase its technological
and manufacturing capabilities, thereby positioning itself as an
advanced aerospace and defense technology supplier for major
strategic defense programs. Further, Enertec may provide
synergistic opportunities that Coolisys may leverage through its
worldwide divisions and affiliated entities. We strongly believe
that the acquisition of Enertec will also invigorate Coolisys’
endeavors in the growing medical and commercial electronics sectors
in both international and domestic markets." Mr. Kohn added,
"Coolisys, with Enertec’s assistance, will target the U.S.
Department of Defense's Foreign Military Sales (FMS) and Military
Financing (FMF) programs as well as expand its sales by offering
its new product and services portfolios to other global defense
markets such as India, members of NATO, other countries and
agencies."
Coolisys paid to the seller $4,772,520 in cash and assumed
$4,288,439 revolving debt of Enertec to certain banks. Concurrently
with the closing of the transaction, Coolisys made certain cash
payments to reduce the revolving credit lines to Enertec from
certain banks and to support Enertec’s longer-term manufacturing
contracts.
ABOUT DPW HOLDINGS, INC.Headquartered in
Newport Beach, CA, DPW Holdings, Inc. (www.DPWHoldings.com), is a
diversified holding company with a growth strategy of acquiring
undervalued assets, disruptive technologies, sustainable solutions,
and exciting ventures for incubation and development to their full
potential for long-term growth and investor returns.
DPW, through its wholly-owned subsidiary, Coolisys Technologies,
Inc., is dedicated to providing world-class technology-based
solutions for critical applications and lifesaving services, in
which innovation is the main driver. Coolisys serves the defense,
aerospace, naval, homeland security, medical, telecom, datacom, and
industrial markets. Its growth strategy targets core markets that
are characterized by “high barriers to entry” and that require
specialized products and services that are not likely to be
commoditized. Through its portfolio companies, Coolisys develops
and manufactures cutting-edge switching power products and power
solutions utilizing its customized digital power management and
resonant topology to achieve the highest efficiency and highest
density power converters and inverters; specialized complex
airborne high-frequency, radio frequency (RF), and microwave
detector-log video amplifiers (DLVA); very high-frequency filters;
and naval power conversion and distribution equipment. Coolisys
provides its technology and services through its three primary
groups: the Power Solutions Group (PSG); the Defense and Aerospace
Solutions Group (DSG); and the Advanced Service Industries (ASI)
Group. Coolisys manages five divisions, including Digital Power
Corporation, www.DigiPwr.com, a leading provider of power
electronics technology based in Northern California; Digital Power
Limited dba Gresham Power Ltd., www.GreshamPower.com, a designer
and manufacturer of power distribution systems primarily for Naval
use based in Salisbury, UK; Microphase Corporation,
www.MicroPhase.com , a designer and manufacturer of microwave
electronics technology based in Shelton, CT; Power-Plus Technical
Distributors, www.Power-Plus.com, a value-added distributor based
in Sonora, CA; and Enertec Systems, a developer and manufacturer of
specialized advanced electronic systems for the defense and
aerospace sectors based in Karmiel, Israel.
Digital Power Lending, LLC, www.DigitalPowerLending.com, a
wholly owned subsidiary of the Company, is based in Fremont, CA,
and is a California private lending company operating under
Financial Lender’s License ##60DBO-77905 dedicated to strategically
providing capital to small and middle size businesses for an equity
interest in addition to loan fees and interest. Super Crypto
Mining, Inc. www.SuperCryptoMining.com is a wholly-owned subsidiary
of the Company, is based in Fremont CA that leverages its
engineering expertise and existing locations to create crypto
currency mining facilities across the globe. Super Crypto Mining,
Inc. operates the branded division, Super Crypto Power,
www.SuperCryptoPower.com. Excelo, LLC, www.Excelo.com, a
wholly-owned subsidiary of the Company, is a national search firm
specializing in fulfilling strategic executive, professional and
hi-tech placements for businesses delivering world-class services.
DPW Holdings, Inc.’s headquarters is located at 201 Shipyard Way,
Suite E, CA 92663; www.DPWHoldings.com. For Investor inquiries:
IR@DPWHoldings.com or 1-888-753-2235.
Forward-Looking StatementsThe foregoing release
contains “forward looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding the acquisition and the
ability to consummate the acquisition. These forward-looking
statements generally include statements that are predictive in
nature and depend upon or refer to future events or conditions, and
include words such as “believes,” “plans,” “anticipates,”
“projects,” “estimates,” “expects,” “intends,” “strategy,”
“future,” “opportunity,” “may,” “will,” “should,” “could,”
“potential,” or similar expressions. Statements that are not
historical facts are forward-looking statements. Forward-looking
statements are based on current beliefs and assumptions that are
subject to risks and uncertainties. Forward-looking statements
speak only as of the date they are made, and the Company undertakes
no obligation to update any of them publicly in light of new
information or future events. Actual results could differ
materially from those contained in any forward-looking statement as
a result of various factors. More information, including
potential risk factors, that could affect the Company’s business
and financial results are included in the Company’s filings with
the U.S. Securities and Exchange Commission, including, but not
limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are
available at www.sec.gov and on the Company’s website at
www.DPWHoldings.com.
Ault Global (AMEX:DPW)
Historical Stock Chart
From Apr 2024 to May 2024
Ault Global (AMEX:DPW)
Historical Stock Chart
From May 2023 to May 2024