Business
PV Nano Cell Closes Acquisition of DigiFlex
PV Nano Cell Closes Acquisition of DigiFlex.
About this update from Pv Nano Cell Ltd.
[{"type":"text","content":"Plans to Introduce a Unique Printer for the Electronics Industry Utilizing PV Nano Cell's Proprietary InksMIGDAL HA'EMEK, ISRAEL / ACCESSWIRE / December 18, 2017 / PV Nano Cell, Ltd. (OTCQB: PVNNF) (\"PV Nano Cell\" or the \"Company\"), an innovative producer of conductive digital inks, today announced the closing of its acquisition of DigiFlex, a digital printer manufacturer. The all-stock transaction was valued at $10 million and represents 25% of PV Nano Cell on a fully diluted basis, post transaction.Additionally, certain shareholders of DigiFlex and its subsidiary, JetCU P.C.B. Ltd., committed to investing $1,100,000 in PV Nano Cell, of which $500,000 has already been invested, and an additional $600,000 is expected to close by the end of 2017.The acquisition of DigiFlex continues PV Nano Cell's strategy to strengthen its presence as DigiFlex printers will be adapted to serve the electronics industry by making available a very unique printer, enabling PVN to expand its markets and technologies. As a result of the purchase of DigiFlex, both companies will be able to expand their services provided to their customers.Currently, DigiFlex generates approximately $300,000 annual revenue, but believes it will be able to accelerate its revenue growth by now including PV Nano inks. The new adapted printer will serve the prototyping, design and R&D markets only and will not look to compete with the mass production (high throughput) printers and printer producers.DigiFlex offers PV Nano Cell a number of key printer technologies and inks that will allow us to implement a comprehensive Complete Solution Approach for our customers. As a result, PV Nano Cell will have the unique ability to support Additive Digital design, prototyping and mass production of electronic devices, such as PCBs, all in one. The Company believes this approach will be very attractive to customers, especially when coupling it with its cost-efficient and mass production compatible line of Sicrys™ silver and copper conductive inks.The DigiFlex's digital printing technology platform – printers and polymer based inks, expands PV Nano Cell's Sicrys™ conductive inks based solution, which will provide the Company with the opportunity for a recurring revenue stream. Sicrys™ offers the most effective conductive silver ink available and at a pric...