WASHINGTON, DC, May 18, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ‒ Xalles Holdings Inc. (OTC: XALL), a fintech holding company providing technology and financial services solutions, today announces that it has executed a Share Purchase Agreement to acquire 100% of Argus Technology Partners, Inc., a Florida based technology sales and solutions provider.

Under the Share Purchase Agreement, Xalles Technology Inc., a wholly owned subsidiary of Xalles Holdings Inc., will acquire all of the common shares of Argus Technology Partners, Inc. The company 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.

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. Hogue has also been an entrepreneur, both investing and strategically advising several businesses for rapid growth. 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.  Additionally, Mr. Baldwin’s work has included the entrepreneurial activities of helping start-ups and solving the challenges of growing market share with multi-million-dollar companies. Collectively Mr. Hogue and Mr. Baldwin have created a large sales channel with internal and third-party resources.

Argus Technology Partners, a technology solutions company, will become a wholly owned subsidiary of Xalles Technology Inc. Argus’ unique advantage is their reach into a wide range of U.S. and international companies in multiple vertical markets, from financial services, healthcare, and manufacturing as well as food services, technology companies and government agencies.

“The acquisition of Argus Technology Partners has filled in an important puzzle piece for Xalles,” stated Thomas Nash, Xalles Holdings CEO. He added, “We have recently acquired some great technology oriented companies, but the sales and marketing abilities of Argus to sell technology solutions will bring not only additional direct revenue and profit to Xalles but also make our existing and future subsidiaries more profitable.”

Argus Technology Partners’ Director Michael Hogue stated, “The combination of the Argus sales and marketing team with the technology companies that are already part of the Xalles corporate family is very powerful. We expect to contribute great results to grow the market share of Intel365 and MinervaWorks in both the short and long term.”

Argus’ President David Baldwin Jr. also commented, “Argus has some aggressive sales targets for 2020 despite the current challenging business conditions. The strength of our processes and existing network give us the ability to provide solutions to clients efficiently. We are excited to join forces with Xalles to support its existing and future technology companies and service providers with great sales and marketing leadership.” 

The acquisition agreement defines the closing date for this transaction as May 31, 2020. Details of the agreement include Xalles acquiring 100% of Intel365 in exchange for 30,000,000 of Xalles’ restricted common shares. The Argus team will also be eligible for profit-sharing bonuses along with additional restricted shares for reaching key performance targets in 2020 and 2021. Argus Technology Partners is expected to generate $2.5 million in revenue in 2020 and $8 million in 2021.

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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