Crednology Buys E-Waste Recycler

Crednology Holding Corp. announced Monday the acquisition of California Recycles Inc., an e-waste recycling company in a deal valued at $250,000. The publicly traded Northridge holding company will pay the purchase price with common shares and a note with payments due over five years. Crednology Chief Executive Orie Rechtman said that a planned growth area for the company is in e-waste and material recycling. “There is strong synergies between the technology companies and the e-waste business such as the collection and recycling of all equipment we accumulate at the data centers we operate as well as the many clients we support who needs to recycle their own computers and electronics,” Rechtman said in a prepared statement. Crednology has two subsidiaries, 4Service, a cloud computing hosting company, and ITatOnce, which deploys and manages on-premises cloud computing environments. It trades on the over-the-counter market.