Xalles Holdings to Acquire MinervaWorks

WASHINGTON, DC and ATLANTA, GA, March 19, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Xalles Holdings Inc. (OTC: XALL), a fintech holding company leveraging blockchain technology for financial reconciliation and payment auditing solutions, today announces that it has executed a Share Purchase Agreement to acquire 100% of MinervaWorks Holdings, Inc., an Atlanta based technology company.

Under the Share Purchase Agreement, Xalles Holdings Inc. will acquire all of the common shares of MinervaWorks Holdings, Inc., which in turn will wholly own the two subsidiaries, Minerva Automation, Inc. and MinervaWorks, LLC.  The MinervaWorks main office is located a short distance from Truist Park, the home field of the Atlanta Braves baseball club. MinervaWorks has been providing technology solutions since 1986 when Minerva Automation was founded by Rodney Bowers. Mr. Bowers is an Electrical Engineering graduate, and throughout his esteemed career has earned several business and technology related certifications and awards including Six Sigma Champion. The combined MinervaWorks organization, which includes 11 full time employees, in this recession-proof business, will become a wholly owned subsidiary of Xalles Technology Inc.

MinervaWorks provides technology consulting, architecture, engineering, platform management and operational support to help clients bring their technology platforms up to date, leading to technological and digital transformation for their businesses. Their clients range from Caesars Entertainment in Las Vegas and the Georgia Aquarium in the Entertainment field to multiple hospitals and Centers for Disease Control and Prevention (CDC) in the Healthcare industry to multiple clients in the Financial Services industry plus other clients in a variety of industry segments.

MinervaWorks is managing technology services for clients that are at the heart of life preserving and lifesaving systems, as well as important fintech systems. One of the expected growth areas for MinervaWorks is through their product called “The Brick”. The Brick is a unique piece of hardware loaded with proprietary software and supported by a national service center that can tap into a client’s network probe everything about the organization’s IT assets. A few of results realized from this process include identification of unknown rogue devices or unauthorized network access, IT asset audit, immediate identification of stolen or rogue devices as well as cyber security threats. The Brick can become a game changer for many companies and industries.