Xalles Holdings is acquiring Argus Technology Partners, which specializes in IT forensics, network architecture evaluation, managed network services, and business process reengineering.
Argus has offices in Pensacola, Florida and Nashville, Tennessee. The acquired company is led by Director Michael Hogue and President David Baldwin Jr. Hogue specializes in fintech and global business development, and Baldwin brings over 20 years experience in healthcare business development.
Xalles is a holding company that acquires and invests in FinTech companies. Watch for sales synergies to emerge between Argus and two other recent Xalles acquisitions -- namely MinervaWorks and Intel365.
Xalles Acquires Argus: Executive Perspectives
In a prepared statement about the deal, Thomas Nash, Xalles Holdings CEO, said:
“The acquisition of Argus Technology Partners has filled in an important puzzle piece for Xalles. 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.”
Argus Technology Partners’ Director Michael Hogue added:
“The combination of the Argus sales and marketing team with the technology companies that are already part of the Xalles corporate family is very powerful. We expect to contribute great results to grow the market share of Intel365 and MinervaWorks in both the short and long term.”
Argus’ President David Baldwin Jr. concluded:
“Argus has some aggressive sales targets for 2020 despite the current challenging business conditions. The strength of our processes and existing network give us the ability to provide solutions to clients efficiently. We are excited to join forces with Xalles to support its existing and future technology companies and service providers with great sales and marketing leadership.”
Argus Technology Partners is expected to generate $2.5 million in revenue in 2020 and $8 million in 2021, the buyer says. Still, it's unclear if that growth target involves organic growth or more M&A -- or perhaps a mix of both items.