Xalles Holdings to Acquire MinervaWorks - Seite 2

“MinervaWorks is a very strategic and accretive acquisition for Xalles because of the people, clients, products and services that MinervaWorks brings to the Xalles family of companies,” explained Thomas Nash, Xalles Holdings CEO. He added, “Our team is excited to help expand the MinervaWorks services into new markets, bring additional artificial intelligence capabilities, and dramatically increase revenue through The Brick through new marketing and sales channels. In times of crisis, businesses see a rise in cyber security threats and MinervaWorks products and services protect businesses to ensure that companies and their IT operations can survive and thrive.”

MinervaWorks Founder and President Rodney Bowers stated, “MinervaWorks is excited about joining Xalles as a premier technology service provider.  The Xalles / MinervaWorks relationship is growing and we expect to work together on several developing opportunities.  By teaming with Xalles, we are confident in providing our deep experience in cloud architecture, migration and implementation services to an expanding user community.  Coupled with our Brick technology, quick and accurate assessments of client platforms will enable our companies to become even more responsive to the changing needs of our clients.”

The agreement defines the closing date for this transaction as March 31, 2020. Details of the agreement include a series of buyout payments during a one-year period. The Founder and President of MinervaWorks Holdings, Inc. will continue in his role during an extended three-year transition period following the closing event. MinervaWorks, whose profitable 2019 included revenue that exceeded 2 million dollars, is expected to generate 3 million dollars in revenue in 2020 and significantly more in future years through expanded deployment of The Brick.

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