Business
Xalles Holdings Finalizes Profit-Sharing Sale of ArtemisX, Enhancing U.S. Defense Technology Landscape
Xalles Holdings Finalizes Profit-Sharing Sale of ArtemisX, Enhancing U.S. Defense Technology Landscape.
About this update from Xalles Holdings Inc.
[{"type":"text","content":"Xalles Holdings Inc. (“Xalles”) (OTC: XALL), a well-established holding company with a focus on innovative technology and financial services, proudly announces a significant milestone in its strategic growth journey. On January 10, 2024, the company announced the formation of ArtemisX Defense Inc. (\"ArtemisX\"), a new Florida-based subsidiary dedicated to the uncrewed systems sector. Xalles is now pleased to announce the sale of ArtemisX to SwētSpot, LLC (“SwētSpot”), a division of the Marvina Case family of companies.This transaction, effective January 14, 2024, helps position SwētSpot as a leader in the autonomous defense technology sector, emphasizing American innovation and manufacturing. The completed deal, for an undisclosed amount, positions Xalles to capitalize on the opportunities from the multi-billion-dollar autonomous defense industry. Acquisition payments from SwētSpot to Xalles are structured in quarterly installments equivalent to 90% of ArtemisX's net profits and continue until the total acquisition price is fully paid. This innovative payment structure underscores Xalles Holdings' commitment to creating value for its shareholders.\"This transaction was strategically structured to retain select intellectual property and products within Artemis Defense Technologies UK, a wholly owned subsidiary of Xalles Holdings, ensuring continued service to existing and future clients. Simultaneously, it positions Xalles to capitalize on the vast opportunities in the U.S. defense markets. This move facilitates the creation of a new channel for delivering American-designed and manufactured Uncrewed Systems,\" stated Thomas Nash, CEO of Xalles Holdings.About Xalles Holdings Inc. (OTC: XALL)Xalles Holdings Inc. is a leading holding company specializing in innovative technology and financial service solutions. The company focuses on growth and diversification, developing cutting-edge technology-based solutions across various sectors. Xalles Holdings is committed to supporting disruptive companies through its proprietary Xalles RISE Business Model, emphasizing blockchain integration and capturing recurring revenue streams. For more information, visit Xalles.com.About SwētSpotSwētSpot, part of the Marvina Case family of companies, is a 100% minority and woman-owned business. As a leading provider of people, process, and artificial i...