NEWPORT BEACH, Calif. — January 10, 2019 — DPW Holdings Inc. a diversified holding company announced today that it has completed establishing DPW Financial Group Inc. and DPW Technologies Group Inc., both Delaware corporations, as previously announced on November 6, 2018. DPW anticipates aggregating all reporting by its subsidiaries and business units through these two new subsidiaries, starting as early as the first quarter of 2019. This realignment will set the stage for other initiatives by the company in 2019 and beyond.
DPW will own 100 percent of these two groups:
- DPW Technology Group Inc. will focus on advanced technology, design, power solutions and manufacturing businesses in defense, aerospace, telecom, medical, and textiles and will include Coolisys Technologies Inc., Digital Power Corp., Microphase Corp., Enertec Systems 2001 Ltd., Digital Power Ltd., and Power-Plus Technical Distributors LLC. Milton “Todd” Ault, III will serve as the interim CEO, and William B. Horne as the new subsidiary’s CFO. DPW Technology Group intends to hire a CEO to provide leadership during the IPO and to develop and execute future growth strategies.
- DPW Financial Group Inc. will focus on lending, cryptocurrency mining, hospitality, and real estate and includes Digital Power Lending LLC, IAM LLC and Super Crypto Mining Inc. Darren Magot will serve as the CEO and Kenneth S. Cragun as the CFO.
The officers of DPW will remain the same: CEO Milton “Todd” Ault, III, CFO William B. Horne, and CAO Kenneth S. Cragun. DPW anticipates that the corporate restructuring will enable it to leverage more efficiently its sustainable assets, including making additional strategic investments.
DPW Holdings is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies that hold global potential. Through its wholly owned subsidiaries and strategic investments, the company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, telecommunications, medical, crypto-mining, and textiles. In addition, the company owns a select portfolio of commercial hospitality properties and extends credit to select entrepreneurial businesses through a licensed lending subsidiary.
Posted January 11, 2019
Source: DPW Holdings