Wired News – DPW Holdings Inks Agreement to Acquire the Operations of Flexisphere
Stock Monitor: Corning Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 02, 2018 / Active-Investors.com has just released a free research report on DPW Holdings, Inc. (NYSE: DPW) (“DPW”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=DPW as the Company’s latest news hit the wire. On January 31, 2018, the Company announced that it has struck an agreement to acquire the operations of Flexisphere, New York-based IT managed services provider. Flexisphere will work with DPW’s wholly-owned subsidiary, Super Crypto Mining, to leverage its curated blockchain and cloud mining technology and expertise. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Flexisphere to Support Super Crypto Mining’s Development of Online Cloud Mining Platform
Flexisphere is likely to be a majority-controlled subsidiary of DPW. Flexisphere will support Super Crypto Mining’s development of an online cloud mining platform for consumers interested in purchasing hash-rate for as low as $250. DPW has decided to appoint Darren Magot as the Chief Executive Officer (CEO) of Super Crypto Mining.
Magot Expected to Lead Super Crypto Mining in Accomplishing Multiple Goals
Milton Todd Ault III, CEO and Chairman of DPW, stated that the Company believes that Magot has the critical expertise to navigate Super Crypto Mining’s future through the rapidly evolving crypto space. Magot is expected to lead Super Crypto Mining in accomplishing multiple goals including the deployment of over 10,000 crypto miners, and the establishment of multiple data centers and mining co-locations that operate efficiently and effectively to launching the Company’s latest initiative, cloud-based mining.
Ault III further added that the acquisition of Flexisphere is an integral part of Super Crypto Mining’s long-term strategy. The Company is looking forward to having Flexisphere and its very talented team of experts lead by Thomas Saleh, President, CEO, and Founder of Flexisphere, join the DPW family.
Magot’s Professional Background
Darren Magot has over 30 years of experience in business development, financial management, and sales management with both private and public companies, leading teams and projects of various sizes. For the last five years, Magot has been focused on the innovation of new technology and products with some of the largest Fortune 500 companies in the world. Magot has a Finance Degree from California State University in Chico.
DPW’s Recent Acquisition Agreement
On January 02, 2018, the Company’s wholly-owned subsidiary, CooliSys Technologies Inc. (“CooliSys”), acquired Enertec Systems 2001 Ltd (“Enertec”), a private Israeli Company. CooliSys is a technology-centric Company dedicated to servicing the defense and aerospace sectors, as well as the industrial and medical sector businesses worldwide. Enertec was Israel’s largest private manufacturer of specialized electronic systems for the military market, generating over $8 million of annual revenue. The acquisition of Enertec expanded CooliSys’ advanced technology development and manufacturing footprint and capabilities with the addition of over 70 professional and skilled employees, most of whom were engineers with proven military experience.
About DPW Holdings, Inc.
Founded in 1969 and headquartered in Fremont, California, DPW is a diverse holding Company with a growth strategy of acquiring undervalued assets, disruptive technologies, sustainable solutions, and impactful ventures for incubation and development to reach their full potential for long-term growth and returns for investors. The Company invests in diverse industries within the commercial, defense/aerospace, industrial, telecom, medical, crypto-mining, hospitality, textile, and investment/corporate lending markets.
Stock Performance Snapshot
February 01, 2018 - At Thursday’s closing bell, DPW Holdings’ stock tumbled 13.72%, ending the trading session at $1.95.
Volume traded for the day: 3.52 million shares.
Stock performance in the last three-month – up 214.52%; previous six-month period – up 232.03%; and past twelve-month period – up 209.52%
After yesterday’s close, DPW Holdings’ market cap was at $39.27 million.
The stock is part of the Technology sector, categorized under the Diversified Electronics industry. This sector was flat at the end of the session.
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