Reeper
Thursday, 05/21/20 02:20:29 PM
Re: None
0
Post # of 8842
Argus was apparently a new division of Intel365 that is included in the agreement. XALL extended the PR to the addition of Argus.
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.
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.
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.
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