PHOENIX, Dec. 13, 2021 /PRNewswire/ -- Alpine 4
Holdings, Inc. (Nasdaq: ALPP), a leading operator and owner of
small market businesses, announced today that it has acquired RCA
Commercial Electronics (RCA) of Indianapolis, Indiana, and its operating
entity DTI Services.
RCA Commercial Electronics is the continuance of the US-based
legacy conglomerate RCA Corporation which dominated the electronics
industry in the 20th century. DTI Services acquired the
rights to the RCA brand in 2006 to design and build products for
the Hospital, Lodging, Education, and Institutional markets.
In 2018, DTI Services acquired the entire lighting division of LG
including all IP for smart lighting products, also now sold under
the RCA banner.
www.rcaled.com
www.rcacommercialtv.com
The RCA Corporation, an American electronics company, was
founded as the Radio Corporation of America in 1919 and
headquartered in Indiana. It was
initially a patent trust owned by General Electric (GE),
Westinghouse, AT&T Corporation, and United Fruit Company. As a
company whose beginnings derived from patents, it quickly became
the gold standard of innovation around the world. As the
dominant electronics and communications firm in the United States for over five decades, RCA
was at the forefront of the rapidly growing radio industry in the
early 1920s as a major manufacturer of radio receivers and the
exclusive manufacturer of the first superheterodyne sets.
Additionally, RCA created the first nationwide American radio
network, the National Broadcasting Company (NBC). The company was
also a pioneer in the introduction and development of television,
both black and white and especially color. RCA became the leader in
consumer satellite technology and is the legacy system that is now
known as DirectTV.
In the 1970s, RCA diversified into a multinational conglomerate,
and in December 1985, it was
announced that GE would reacquire its former subsidiary for
$6.28 billion in cash, or
$66.50 per share of stock. The
sale was completed the next year, and despite initial assurances
that RCA would continue to operate as a mostly autonomous unit, it
was revealed that GE's main motivation in purchasing RCA was to
acquire the NBC Television Network which RCA owned; GE proceeded to
sell off most of the other RCA assets. In 2004, the RCA
brand was sold off to Technicolor SA, a French conglomerate.
One of the largest TV distributors of RCA's former TV division, and
one of RCA's lead engineers approached Technicolor to license the
name from Technicolor to continue on the RCA brand as RCA
Commercial.
Kent B. Wilson, Alpine 4's CEO,
had this to say: "There are very few moments in life outside of
being a parent, where life presents something of enormous gravity
that you have the opportunity to be the caretaker of. This
acquisition represents one of those moments in time. I, and
by extension Alpine 4, are unabashedly proud of being a collector
of American companies, and the RCA name is the purest expression of
what we call 'Americana.' RCA's historical importance to shaping
our daily lives is rarely seen in companies of
today. The radio of the 1920's and 30's and then the TV
of the 1940's and beyond are the equivalent to the internet and the
smart phone of today. Over the last seven months, as we put this
deal together, we recognized vast opportunities for the RCA brand
within the Alpine 4 family of companies. As a company of
innovation, like RCA has been historically, we come across various
products, ideas, and inventions that have real possibilities of
becoming branded under the RCA name. The power of this
name is already starting to bear fruit as we have several products
that will come to market in 2022 with the RCA name on it."
Jeff Kingston, President of RCA
commented, "RCA's reputation as the most trusted name in
Electronics, is just as relevant today as it was back in 1919. We
proudly operate out of our new 70,000 sq ft Technology Center with
offices strategically placed around the country and we are poised
for expansive growth. It's a pivotal time to join Alpine 4 and we
look forward to the combined collaborative creativity being put
into action through innovative products and projects."
RCA will reside in the A4 Technologies, Inc., Portfolio as both
a Stabilizer and Facilitator from Alpine 4's DSF business
model.
About Alpine 4 Holdings: Alpine 4 Holdings, Inc. (ALPP) is
a NASDAQ traded conglomerate that acquires businesses that fit into
its disruptive DSF business model of Drivers, Stabilizers, and
Facilitators. At Alpine 4, we understand the nature of how
technology and innovation can accentuate a business. Our
focus is on how the adaptation of new technologies, even in
brick-and-mortar businesses, can drive innovation. We
also believe that our holdings should benefit synergistically from
each other, have the ability to collaborate across varying
industries, spawn new ideas, and create fertile ground for
competitive advantages.
Four principles at the core of our business are Synergy.
Innovation. Drive. Excellence. At Alpine 4, we believe
synergistic innovation drives excellence. By anchoring these
words to our combined experience and capabilities, we can
aggressively pursue opportunities within and across vertical
markets. We deliver solutions that not only drive industry
standards, but also increase value for our shareholders.
Contact: Investor Relations
investorrelations@alpine4.com
www.alpine4.com
Forward-Looking Statements: Certain statements and information
in this press release may constitute "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended (the "Securities Act"), Section 21E of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), and the
Private Securities Litigation Reform Act of 1995. Statements that
relate to our future operations, our ability to develop the
technologies discussed above, and any financial performance based
on the results of our merger with RCA, among others, as well as any
statements that are not statements of historical facts constitute
forward-looking statements. The information disclosed in this
press release is made as of the date hereof and reflects Alpine 4
most current assessment of its historical financial performance.
Actual financial results filed with the SEC may differ from those
contained herein due to timing delays between the date of this
release and confirmation of final audit results. These
forward-looking statements are not guarantees of future performance
and are subject to uncertainties and other factors that could cause
actual results to differ materially from those expressed in the
forward-looking statements including, without limitation, the
risks, uncertainties, including the uncertainties surrounding the
current market volatility, and other factors the Company identifies
from time to time in its filings with the SEC. Although Alpine 4
believes that the assumptions on which these forward-looking
statements are based are reasonable, any of those assumptions could
prove to be inaccurate and, as a result, the forward-looking
statements based on those assumptions also could be incorrect. You
should not place undue reliance on these forward-looking
statements. The forward-looking statements contained in this
release are made as of the date hereof, and Alpine 4 disclaims any
intention or obligation to update the forward-looking statements
for subsequent events.
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SOURCE Alpine 4 Holdings, Inc.