Business
CORRRECTION: Xalles Holdings Announces Strategic Acquisition of Fluid Tech
CORRRECTION: Xalles Holdings Announces Strategic Acquisition of Fluid Tech.
About this update from Xalles Holdings Inc.
[{"type":"text","content":"Acquisition will enhance fintech offerings with advanced AI-powered payment solutionsWASHINGTON, DC, December 12, 2023 – Xalles Holdings Inc. (Xalles) (OTC: XALL), a well-established holding company with a focus on technology and financial services, today announced its intention to acquire Fluid Tech Inc., a leader in the payments and financial services sector. This strategic acquisition is poised to significantly enhance Xalles' existing financial services offerings, leveraging the combined intellectual property and expertise of both companies, including Fluid Tech’s predecessor, APG-IT.Fluid Tech Inc., operating under its Fluid FinTec division, is at the forefront of AI-backed payment solutions, offering seamless integration with banking software and payment platforms. This capability positions Fluid Tech as a key player in the market, providing financial institutions, merchants, and consumers with fast access to a fully integrated, lower-risk payments platform. The company's advanced and easily integrable APIs enable businesses to access over 182 unique payment programs, encompassing services such as cross-border transactions, international money transfers, and the innovative Instant Confidential Exchange Payment System technology (I.C.E.) which enhances security and consumer data privacy. Jonathan Lee, a seasoned leader in the payments industry, played a pivotal role in taking i3 Verticals, Inc. public on NASDAQ. As CEO of Fluid Tech Inc, he excels in merging innovative payment solutions with traditional business models, enhancing their growth and efficiency. His career, marked by strategic acquisitions and expertise in financial data security, showcases his significant impact in the fintech sector. He expressed enthusiasm about the acquisition, \"aligning with Xalles opens doors to a wealth of technology partners and opportunities. This partnership is expected to bring substantial benefits to both entities. Fluid Tech is committed to delivering proprietary financial technology solutions, particularly to fundraising organizations and educational institutions. Our focus is on streamlining fundraising processes and creating value-added, AI-enhanced programs.\"The Share Exchange Agreement between Xalles Holdings and Fluid Tech outlines a period for an extensive due diligence review. This review is scheduled to be completed by J...