WASHINGTON, DC. , June 20, 2018 (GLOBE NEWSWIRE) -- Xalles Holdings Inc. (OTC: XALL), a company focusing on accelerating fintech companies, leveraging blockchain technology for financial reconciliation, and payment auditing solutions, recently completed an Asset Purchase Agreement for the acquisition of 100% of the assets and intellectual property of www.usasavingsclub.com, a consumer discount shopping club and fundraising service.
Xalles will create a new wholly owned subsidiary to operate an international network of savings clubs based on the USA Savings Club design. The original management team will be part of the new subsidiary and lead the U.S team. Xalles will provide additional resources for domestic growth and international expansion.
USA Savings Club has agreements with thousands of name brand merchants which establishes the base for expansion within the first few regions around the U.S. National brands and local merchants will participate in the program by offering discounts to consumers while supporting local schools and other not-for-profit organizations. Xalles expects to leverage the synergy between this company and the other consumer commerce and payment subsidiaries that are already part of the Xalles family of companies.
“This acquisition gives Xalles the ability to combine strengths of a few of our subsidiaries to offer consumers a way to shop locally at a discount while helping non-profit organizations in their fundraising through a passive and year-round method,” said Xalles CEO, Thomas Nash. He continued, “We believe the combined offering through our existing and new distribution channels will change the way people shop in their local communities.”
Xalles Holdings will continue to search for complementary acquisitions to enhance the consumer’s local shopping and eCommerce experiences.
About Xalles Holdings Inc. (OTC: XALL)
Xalles Holdings Inc. is a holdings company that focuses on direct investments in disruptive fintech companies. The company actively seeks acquisition targets with solid management teams and business models, large total attainable markets (TAM), and lucrative exit opportunities to invest and accelerate growth in. Recently, the company has placed emphasis on leveraging blockchain technologies to provide industry-leading financial reconciliation and auditing solutions, which will allow for the capture of recurring revenue streams over time. For more information visit: http://xalles.com
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