Many companies have hit the newswires this morning owing to one reason or another, and one of those is Xalles Holdings Inc. (OTC:XALL). The company shot into the limelight today after it announced that it had completed the acquisition of Artemis Defense Technologies Ltd. Xalles is described as a progressive company that specializes in financial services and technology, while Artemis Defense is a leading player in the unmanned systems technology space.
Artemis, specifically known for its automated and artificial intelligence offerings, would operate as a fully integrated subsidiary unit of Xalles Holdings following the transaction. Artemis became the first corporate member of the Xalles Security business group established by the company not too long ago.
Artemis is based in the United Kingdom and is an established player in the advanced autonomous technologies space related to homeland security and defense. At the moment, Artemis is looking at ways to expand its presence in the United States and get into alignment with the major initiatives of the United States Department of Defense. The company is also on the lookout to contribute to the AUKUS Defense program that has been created for collaboration among the United States, Australia, and the United Kingdom.
In recent times, Artemis has made its name for having emerged as a major player in highly sophisticated autonomous systems with high-level capabilities in the production, scaling, and prototyping of innovative technologies. The Chief Executive Officer and Chairman of Xalles Holdings, Thomas Nash, spoke about the latest developments as well.
He noted that the acquisition was a ‘game changer’ for Xalles as a company. It was in perfect alignment with the company’s overall goal of making its portfolio diverse and boosting value for its shareholders. Nash also noted that the team at Artemis also possessed a track record of having worked with state security and NATO since as far back as 2012.
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