$XALL - News on new acquisition to add greater versatility to the company's extensive financial support services for a wide range of clients.
Xalles Holdings to Expand Financial Accounting Compliance Automation & Risk Management Solutions with Protominds Acquisition
WASHINGTON, DC, Feb. 04, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Xalles Holdings Inc. (OTC: XALL), a fintech holding company providing technology and financial services solutions, will acquire Protominds, Inc. (“Protominds”) and its wholly owned subsidiary Protominds Software Solutions Private Limited in a share purchase agreement.
Headquartered in Milpitas, California, and with offshore operations in India, Protominds is a leading fintech consulting and services company with a proprietary full-service regulatory cloud-based platform that offers reporting capabilities for post-audit financial transactions. The unified regulatory standards compliance solution is called FiNiCS. FiNiCS is a financial accounting compliance automation solution aimed at helping enterprises to optimize the cost of change involved with financial regulations with its compliance automation solution. Through its Regulation-as-a-Service (RaaS), enterprise clients are able to process large volumes of granular data and output risk reports to facilitate more meaningful analysis.
“Protominds looks to expand its market presence through the Xalles larger business development footprint and scale business globally,” commented Sridhar Raju and Venkatesh Kirupakaran, the Co-founders of Protominds, Inc.
“The Protominds acquisition perfectly complements and further enhances the services capabilities of the Crown Solutions acquisition and the existing subsidiaries of Xalles,” commented Venugopal Thiyyagura, President of VGR Technology Partners.
“The FiNiCS platform is a great fit with the Xalles mission to grow our fintech product and services offerings,” stated Thomas Nash, CEO of Xalles Holdings. He continued, “We see tremendous synergy with the existing and planned subsidiaries and welcome the Protominds team into our organization.”
The acquisition will make Protominds a wholly owned subsidiary of VGR Technology Partners within Xalles Technology and adds a unique regulatory compliance automation & data analytics product to the company portfolio. The acquisition is targeted to be completed by February 28, 2021.
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: Xalles.com
About Protominds
Protominds is a leading fintech consulting & services company based in Milpitas, California, serving a growing list of customers globally through its operations across USA & India. Core areas of expertise include: automation of accounting standards compliance, enterprise financial solutions and analytics. For more information visit Protominds.com
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov and in OTC Markets at www.otcmarkets.com
Investor Relations Contact:
Info@Xalles.com
http://www.Xalles.com
202.595.1299 Office
Xalles Holdings to Expand Financial Accounting Compliance Automation & Risk Management Solutions with Protominds Acquisition
WASHINGTON, DC, Feb. 04, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Xalles Holdings Inc. (OTC: XALL), a fintech holding company providing technology and financial services solutions, will acquire Protominds, Inc. (“Protominds”) and its wholly owned subsidiary Protominds Software Solutions Private Limited in a share purchase agreement.
Headquartered in Milpitas, California, and with offshore operations in India, Protominds is a leading fintech consulting and services company with a proprietary full-service regulatory cloud-based platform that offers reporting capabilities for post-audit financial transactions. The unified regulatory standards compliance solution is called FiNiCS. FiNiCS is a financial accounting compliance automation solution aimed at helping enterprises to optimize the cost of change involved with financial regulations with its compliance automation solution. Through its Regulation-as-a-Service (RaaS), enterprise clients are able to process large volumes of granular data and output risk reports to facilitate more meaningful analysis.
“Protominds looks to expand its market presence through the Xalles larger business development footprint and scale business globally,” commented Sridhar Raju and Venkatesh Kirupakaran, the Co-founders of Protominds, Inc.
“The Protominds acquisition perfectly complements and further enhances the services capabilities of the Crown Solutions acquisition and the existing subsidiaries of Xalles,” commented Venugopal Thiyyagura, President of VGR Technology Partners.
“The FiNiCS platform is a great fit with the Xalles mission to grow our fintech product and services offerings,” stated Thomas Nash, CEO of Xalles Holdings. He continued, “We see tremendous synergy with the existing and planned subsidiaries and welcome the Protominds team into our organization.”
The acquisition will make Protominds a wholly owned subsidiary of VGR Technology Partners within Xalles Technology and adds a unique regulatory compliance automation & data analytics product to the company portfolio. The acquisition is targeted to be completed by February 28, 2021.
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: Xalles.com
About Protominds
Protominds is a leading fintech consulting & services company based in Milpitas, California, serving a growing list of customers globally through its operations across USA & India. Core areas of expertise include: automation of accounting standards compliance, enterprise financial solutions and analytics. For more information visit Protominds.com
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov and in OTC Markets at www.otcmarkets.com
Investor Relations Contact:
Info@Xalles.com
http://www.Xalles.com
202.595.1299 Office
