Shares of a micro cap holding company are trading higher this morning after the company announced that it is acquiring not one, but two separate companies. Xalles Holding Inc. (OTC-PNK:XALL) made the announcement this morning that it will be acquiring both VGR Technology Partners and Crown Solutions. This comes the day after the company completed the acquisition of Vigor Crypto holdings.
VGR is a management company designed to seek out and perform due diligence on IT staffing, augmentation and product development companies and roll them up under VGR. Crown Solutions India, along with its two sister companies in the U.K. and U.S., collectively operate a staffing and shared services organization that is expected to generate approximately $9.5 million U.S. in revenue in 2021 and approximately $1.8 million in pre-tax profits (EBIDTA).
Xalles is a Fintech holding company specializing in payment solutions and related businesses. Xalles provides services to government and business organizations, and consumers with payment consulting and system solutions. Xalles also has a license to a patented payment card security solution. The company offers Pre-Payment & Post-Payment Auditing (PPA), Investment & Financing systems (IFS), Financial Transaction Reconciliation (FTR).
Traders seem to be optimistic on the news as shares are bid up premarket at $0.0454/share (+5.6% implied open). This move is a strong continuation of the breakout the company had from its downward trading range it was stuck in for multiple months.
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