WASHINGTON, DC, June 1, 2020 ‒ Xalles Holdings Inc. (OTC: XALL), a fintech holding company providing technology and financial services solutions, today announces that it has completed the acquisition of Argus Technology Partners, Inc., a Florida based technology sales and solutions provider.
Argus Technology Partners, Inc. is now a wholly owned subsidiary of Xalles Technology Inc., which in turn is a wholly owned subsidiary of Xalles Holdings Inc. Argus is based in Pensacola, Florida and Nashville Tennessee. Argus Technology Partners provide technology services to companies and government agencies including information technology forensics, network architecture evaluation, managed network services, and business process reengineering to improve efficiency and reduce administrative costs. The Argus network of sales channels and representatives will be utilized to expand the sales reach of the recently acquired Xalles companies, MinervaWorks and Intel365. In the future it is expected that Argus will provide marketing and sales services for new technology-based acquisitions within the Xalles structure of companies.
Argus Technology Partners is led by its Director Michael Hogue and President David Baldwin Jr. Mr. Hogue is extremely accomplished in fintech and global business development. He is a Vanderbilt University graduate and has previously held senior executive positions at Hewlett Packard Financial Services, GATX Technology, Macquarie Capital and Comdisco, Inc. His experience includes expanding sales to companies by multiple millions of dollars and successfully implementing global strategic sales initiatives. Mr. Baldwin has 20+ years in healthcare business development. David’s past experiences have included leading national and global sales of data and networking services as well as hardware sales for a Fortune 100 network carrier. Collectively Mr. Hogue and Mr. Baldwin have created a large sales channel with internal and third-party resources.
The acquisition was completed on time on May 31, 2020 as per the share exchange agreement. Details of the agreement include Xalles acquiring 100% of Argus Technology Partners in exchange for 30,000,000 of Xalles’ restricted common shares. The Argus team will also be eligible for profit-sharing bonuses and additional restricted shares for reaching key performance targets in 2020 and 2021. Argus Technology Partners is expected to generate $2-3 million in revenue in 2020 and $8 million in 2021.
(CORRECTION NOTICE: The Xalles May 18, 2020 news release announcing the Argus acquisition, incorrectly mentioned Intel365 instead of the Argus original shareholders as receiving 30,000,000 shares as part of the deal. The only relationship between Intel365 and Argus Technology Partners is that they are both now wholly owned subsidiaries of Xalles Technology.)
About Xalles Holdings Inc. (OTC: XALL)
Xalles Holdings Inc. is a holding company that focuses on acquisition and support of disruptive fintech companies. The company actively seeks targets in which it can partner with or acquire to accelerate growth, targeting companies with solid management teams and business models, large total attainable markets (TAM), and lucrative exit opportunities. The company places an emphasis on leveraging blockchain technologies to provide industry-leading financial reconciliation and auditing solutions, which, over time, will allow for the capture of recurring revenue streams. For more information visit: http://Xalles.com
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