FREMONT, Calif., Jan. 31, 2018 (GLOBE NEWSWIRE) -- DPW Holdings, Inc. (NYSE:DPW) ("DPW" or the "Company"), a diversified holding company, announced today it has entered into an agreement to acquire the operations of Flexisphere, http://www.flexisphere.com/, an IT managed services provider that will work with Super Crypto Mining, DPW's wholly owned subsidiary, to leverage its curated blockchain and cloud mining technology and expertise. Flexisphere's client base ranges from small to medium businesses ("SMB") and large firms that seek expertise for desktop, network, and other distributed services as well as programming, web/online asset development and cloud computing. Flexisphere is expected to be a majority-controlled subsidiary of DPW and will be available to provide a host of services including supporting Super Crypto Mining's development of an online cloud mining platform for consumers interested in purchasing hash-rate for as low as $250.00. The cloud mining platform will feature a comprehensive dashboard readily providing historical and real-time operational data to its subscribers. In conjunction with these developments, the Company has prompted Super Crypto Mining to appoint Darren Magot as its CEO.
Flexisphere is led by its President, CEO and Founder, Thomas Saleh, a leading entrepreneur in the computer industry for more than three decades. Mr. Saleh has founded seven successful high-technology companies, and influenced the success of several more. His first company, Applied Logic, an early provider of Managed Hosting Services, was acquired by Raytheon in 1980. He next founded XNET, which built the first fully automated financial futures and commodities exchange (INTEX) in Bermuda. XNET was acquired by the International Futures and Commodities Exchange in 1984. From there Mr. Saleh's accomplishments have varied, but include his tenure from 2007 to 2009 at the FASB where, at the request of the president of the Financial Accounting Foundation and the Chairman of the SEC, Mr. Saleh served as the CTO and led the development of the USGAP XBRL "Intelligent Data" project. Mr. Saleh's research on Policy Driven Security and Cloud Computing technologies led to the formation of FlexiSphere, a company specifically focused on delivering highly managed and ultra-secure turnkey computing to selected verticals including financial services, legal and transportation. Mr. Saleh has served as a strategic consultant and senior adviser to the NASDAQ, the NYSE, the FASB and Safeway Supermarkets among others. He has served as a director of 6 venture-backed companies and advises several private equity funds.
The Company reminds everyone that the presentation for the webinar will be made public through the filing with the SEC of an 8-K report prior to the webinar on Wednesday afternoon. Shareholders, investors and the public are encouraged to review the presentation prior to the webinar as it will be posted at www.DPWHoldings.com. The Company will make available, after the webinar, a video recording for those who could not attend as well as for anyone else. The video will be posted along the side of the posted presentation in the coming days with a link sent to all registered participants.
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