The stock of DPW Holdings Inc (NYSEAMERICAN:DPW) closed at $3.08 losing 10.72% in yesterday’s trading session. CooliSys, a subsidiary of DPW Holdings, Inc has proceeded enter a definitive agreement that will see it acquire Enertec Systems. Over the years Coolisys has remained to be a technology-centric company which has remained much dedicated to servicing the aerospace and defense sectors as well as the medical and industrial sector businesses globally.
Enertec has been undertaking its operations for about 22 years and is the largest in terms of the Israeli private manufacturers of specialized electronic systems for the military market. And it is associated with almost $8 million in terms of the annual revenue.
An official working with Enertec in a recent interview outlined that they took great pride in the fact that they had succeed in making tremendous steps forward in business. He attested to the fact that they had encountered challenges while serving as a strategic partner in joint executions of large and complex long-term projects. And also in the provision of multi-purpose turnkey systems that help a huge deal with the military applications on the international arena.
An analyst that has been following up on the activities of Enertec revealed that the company was doing a remarkable job in line with serving the various defense industry applications with reliable sophisticated systematic solutions including tanks, missiles, combat aircraft, tanks, submarines, missile boats, mobile trailers and satellites.
The move to acquire Enertec has been praised by market analysts who are confident that it will help expand Coolisys’ manufacturing footprint and capabilities in a rather significant way. It will also help expand the company’s advanced technology development which is essential towards rising to become an industry leader.
Coolisys President and CEO Amos Kohn said the acquisition of Enertec was a major step forward towards fulfilling the company’s 2018 growth strategy.
He opined, “We are very pleased that through this anticipated acquisition, we will realize an expansion of our customer base and benefit from Enertec’s innovative technology. Additionally, Coolisys will increase its manufacturing capacity and capabilities while at the same time improving its technical knowledge base.”