NEW YORK, Feb. 13, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE– Exxe Group, Inc (OTC: AXXA), a diversified company focused on synergistic acquisitions in real estate, fintech, AI, media and financial services announced today the signing of a binding Memorandum of Understanding to acquire a VIP digital communities holding (“VIP”) – VIP offers a media platform that delivers exclusive VIP concierge services to an elite, wealthy community. The acquisition, valued at $8,000,000.00 is structured as an installment purchase. This allows Exxe the flexibility to add a major scalable tech and social media asset in synergy within our current portfolio holdings. The Exxe/VIP deal closing is expected upon completion of due diligence within 10 days.
Exxe is undertaking an expansion into a new sector of investments by lining up a pipeline of acquisitions in the digital and physical communities. VIP is the first major acquisition in this space. VIP is an existing digital platform with strong user/customer base in 40+ cities internationally, with headquarters in Miami. VIP’s assets comprise of a media platform, technology app, an international team, numerous contracts with exclusive venues all over the world and an existing active community. VIP has a track record of several years of healthy revenues. VIP will add a globally recognized brand with a loyal user base to the Exxe portfolio. This latest acquisition brings to Exxe Group an established seasoned business with positive cash flow and provides a stable low risk investment. Membership is comprised of the internationally financial elite which VIP has attracted and accumulated over the years. Some active VIP members may spend up to $100,000.00 annually on the services offered by VIP. The VIP platform currently contains multiple product offerings catering to an international High Net Worth community. The VIP software platform provides services and allows real time access to red carpet events and exclusive parties. It also offers preferential treatment at exclusive restaurants and premier nightclubs in some of the world’s most fashionable locations in New York, Los Angeles, Miami, Las Vegas, Milan, Paris, London, Monaco, St Barts and, Dubai.
Exxe Group Plans: Exxe corporate plans include expanding the array of services offered through VIP by upgrading the VIP App product to include booking of luxury yachts, private jets, exotic cars and offering a greater variety of financial services. The VIP App has established itself as one of the premier Apps for exclusive international VIP services to the wealthy. Exxe plans to redefine VIP App business model allowing the Exxe /VIP alliance to capture a greater amount revenues that VIP, in the past, was unable to achieve. This additional improvement to the VIP App should dramatically increase cash flow. In addition, Exxe’s CleverGuides AI technology will facilitate increases to the VIP membership and working with Exxe’s west coast software platform, Neccentric LA, will significantly reduce software development costs.
The revenue stream from the VIP concierge services is projected to quadruple the current revenues of the Exxe Group, since Exxe will collect a percentage of the revenues generated from digital use fees, branding and advertising through the Exxe/VIP alliance. In addition, expanded service offering, utilization of our borrowers and lenders and AI platform should create an economy of scale and achieve exponential synergistic growth.
The Exxe Group’s vision focuses on digital technology monetization, financial services and Artificial Intelligence software in application redefines international luxury real estate segment. The current acquisitions VIP App Platform integrates well with our overall corporate strategy that operates at the cross section of RE/TMT private equity investments, and is positioned to maximize shareholder value through asset digitization and monetization, and thus bring about higher utility and returns to Exxe investors. The acquisitions should fuel Exxe’s growth and continued expansion through new technologies.
Exxe CEO, Edward Nazmiev, commented on the VIP deal by noting, “The acquisition of the VIP platform is another essential addition to our vision of connected spaces and communities and is an integral part of our business plan catering to meet people’s financial, emotional and functional needs. I look to the Exxe/VIP alliance to significantly increase our revenues going forward and add to our financial network.”
About Exxe Group: Exxe Group is a diversified corporation focusing on acquisitions in the following sectors: real estate, technology, media, and financial services. Exxe Group is an acquisition-driven company. The company strategy is to acquire controlling equity interests in undervalued companies and then take an active role in improving their performance – accelerating their growth by providing both access to capital and management expertise. For additional information go to www.exxegroup.com
CONTACT: Exxe Group IR firstname.lastname@example.org
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 time sat, 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, uncertainties 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.
Wall St Business News, Latest and Up-to-date Business Stories from Newsmakers of Tomorrow