WASHINGTON, DC, July 21, 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 Exchange Agreement to acquire 100% of Adaptive Metadata Solutions Inc. (“Adaptive”). Adaptive Metadata Solutions is a Master Reseller of Adaptive products and provides industry leading metadata analytics (data that describes other data), and artificial intelligence solutions to large enterprises.
Adaptive provides Fortune 500 clients with essential software solutions that deliver a business discipline of data governance, control and innovation to the enterprise. Industries currently serviced include Insurance, Financial Services, Government Agencies, Healthcare, Energy, and many other regulated industries, where compliance and data governance are critical to operational and strategic success. Adaptive is projected to generate at least $5 million in 2020 revenue and more than $10 million in revenue in 2021.
Collectively, Adaptive’s product suite is used by clients that include Bank of America, Federal Reserve Bank of New York, Western Union, the U.S. Government’s General Accounting Office (GAO), Dell, United Natural Foods, and numerous central banks and financial services companies. The cloud based or on-premises Adaptive platform enables organizations to understand the entire data landscape of an enterprise providing end-to-end data lineage analytics. Gartner named Adaptive’s platform as a Leader in its 2019 Magic Quadrant for Metadata Management Solutions. Clients leverage the Adaptive platform for enhanced data governance, analytics, Artificial Intelligence and Machine Learning best practices and reuse.
Adaptive Metadata Solutions Inc. is led by its CEO, Eric Reehl. Mr. Reehl has over 25 years of experience as an investor and advisor to companies, lenders, and investors across a range of industries for both debt and equity capital. He has led in excess of $5 billion of direct investments and restructurings as a principal or advisor. He previously served as a Managing Director for Plainfield Asset Management LLC, a $5.2 billion Greenwich, Connecticut-based hedge fund. He received his Master’s Degree in Business and undergraduate degree from the University of Texas at Austin.
Adaptive’s CEO commented, “The Adaptive and Xalles relationship will facilitate our growth in multiple vertical markets to build upon our successful client implementations. Adaptive is perfectly positioned for rapid global growth in the next 2 years through our alliances and channel partners, which account for a significant number of our business referrals.”
“The Adaptive acquisition is the definition of synergy. Adaptive will add value to our existing operating companies and technologies, while Argus Technology Partners will expand Adaptive’s reach into new vertical markets,” stated Thomas Nash, Xalles Holdings CEO. “We have a unique opportunity to cross sell our products between companies. Adaptive’s offerings will create additional opportunities that will enable our client base to achieve tremendous savings and compliance benefits through data analytics, and artificial intelligence to support governance applications and cyber security. The real value proposition of this acquisition to our shareholders comes in the form of building a recurring revenue stream with a growing base of blue chip clientele as we complete our current fundraising effort.”
Xalles Technology Inc., a wholly owned subsidiary of Xalles Holdings Inc., will acquire all of the shares of Adaptive Metadata Solutions Inc., making Adaptive a wholly owned subsidiary of Xalles Technology. The acquisition agreement defines the closing date for this transaction as on or before August 10, 2020.
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
About Adaptive
Adaptive Metadata Solutions Inc. is headquartered in Dallas, Texas. The Adaptive platform was named by Gartner as a leader in the 2019 Magic Quadrant for Metadata Management Solutions along with Oracle, IBM, Infomatica, and SAP. Adaptive is a market leader with a long history of helping simplify the complex data that organizations generate by adapting and eliminating the time consuming and expensive tasks of managing corporate information. The company’s offerings are designed to support the rapidly changing business and IT environments, which are driven by the ever increasing demands of compliance, regulatory pressures and governance requirements. Adaptive provides innovative solutions that enable enterprises to align their capabilities with strategic intent. Adaptive offers standards-based solutions that help organizations better align their valuable information by supporting specific management challenges including Data Governance, Data Quality, Metadata Management, Enterprise Architecture Management and IT Portfolio Management while ensuring Knowledge is retained as systems evolve. For more on the Adaptive product suite, visit www.adaptive.com
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