The stock of DPW Holdings Inc (NYSEAMERICAN:DPW) closed at $2.76 losing 10.10% in yesterday’s trading session. CooliSys Technologies Inc-a subsidiary of DPW has made an announcement disclosing that it has resolved sign into a definitive agreement which will help it achieve the goal it has dreamt about over the years. That will be the acquisition of Enertec and the move has been supported by all the well wishers around the globe and the investors as well.
It has been many years of dedication to work on the part of Coolisys which has never spared any of its efforts towards servicing the aerospace sectors, medical sector businesses and the defense sectors on the worldwide arena.
In the 22 years that it has been serving customers the Company has risen through the ranks to become one of the biggest Israel private manufacturers of specialized electronic systems for the military market, an undertaking that has witnessed them generate about $8 million in terms of annual revenue.
Enertec has made a great name for itself when it comes to the provision of both sophisticated and reliable systematic solutions to a wide array of the defense industry applications including missile boats, mobile trailers, submarines, satellites, UAVs, combat aircraft, tanks, and missiles.
Experts see the purchase of Enertec as a major step forward in terms of expanding the manufacturing footprint, capabilities and advanced technology development that is associated with Coolisys. It also has plans underway to move ahead and add about 70 professional and skilled employees. And reports indicate that quite a significant number of them were trained as military engineers. They were professionals with proven experience and track record. At this point in time, Enertec is already a subsidiary of Micronet Enertec Technologies, Inc.
Coolisys President and CEO Amos Kohn recently commented on the transaction. He opined, “The purchase of Enertec marks a major step in continuing to execute our acquisition growth strategy into 2018 and beyond. 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.”
Asides from that, Coolisys hopes to proceed and boost its capabilities and manufacturing capacity.