Xalles Outlines Enhanced Plan for 2021 Following VGR Acquisition
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VGR Technology Partners Transaction Completion Creates an Enhanced Plan for Accretive Acquisitions
WASHINGTON, DC, Jan. 26, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Xalles Holdings Inc. (OTC: XALL), a fintech holding company providing technology and financial services solutions, has completed the acquisition of VGR Technology Partners Inc. (“VGR”) in a share exchange agreement, previously announced on January 12, 2021.
Xalles Holdings has taken a major step towards executing against its 2021 business plan. The completion of the VGR transaction means that Xalles Technology now has a wholly owned subsidiary in VGR Technology Partners that will be acquiring profitable IT staffing, consulting and product development companies throughout 2021 and beyond.
VGR’s first acquisition was previously announced to be the group of Crown companies, namely Crown Solutions India Pvt. Ltd. (based in Chennai, India), Crown Global Solutions Pvt. Ltd. (based in the UK), and Crown Solutions, Inc. (based in the USA). VGR now has a pipeline of firms that could contribute over $100 million in annual revenue and over $25 million in annual EBIDTA. VGR’s leadership team is working towards securing additional acquisitions during Q1 of 2021.
Xalles maintains its vision to be a top emerging growth fintech holding company. By aggregating synergistic portfolio companies, we seek to extract efficiencies and build a powerful business for our shareholders. Xalles ultimately aims to achieve successful exits for many of the rollup clusters over time while focusing on the areas of the company that can yield great results in 2021. Currently, Xalles has Xalles Capital for asset acquisition and cryptocurrency trading, Xalles Limited for X2X system development and licensing plus payment auditing, Xalles Financial Services for consumer, business and government payment solutions, Xalles Technology for IT system-based companies, VGR for IT staffing and product development companies, and Gateway Innovations for a rollup of Fintech office parks.
About Xalles Holdings Inc. (OTC: XALL)
Xalles Holdings Inc. is a holding company that focuses on direct investments in disruptive fintech companies. The company actively seeks acquisition targets in which it can invest and accelerate growth, targeting companies with solid management teams and business models, large total attainable markets (TAM), and lucrative exit opportunities. The company places 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
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov and in OTC Markets at www.otcmarkets.com
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