Xalles Holdings Inc (OTC:XLSH) Stock In Focus After Latest Development
There were a significant number of companies that had come on the news cycle among investors on Wednesday, and one of those was Xalles Holdings Inc. (OTC:XLSH). The company operates as a seasoned holding company with interests in financial services and innovative technology spaces. On January 10, the company announced that the establishment of its new subsidiary, ArtemisX Defense Inc., was in progress.
The subsidiary would be focused on the unscrewed systems industry. The company also noted in its news release that ArtemisX had been devised in the form of Florida C Corporation. The new subsidiary would represent the emergence of a corporate entity within Xalles that would be particularly focused on the expansion of the company’s capabilities in the United States defense industry.
ArtemisX would be responsible for leveraging the designs, intellectual property, and expertise of Xalles’ fully owned subsidiary, Artemis Defense Technologies UK Ltd. The creation of ArtemisX was a move from Xalles with the express purpose of securing valuable and lucrative contracts in the unscrewed systems space in the United States.
On December 20, 2023, Xalles hit the newswires after the company announced that it had completed the acquisition of Artemis Defense Technologies. At the time, it was revealed that the company was a leading player in the unmanned systems technology industry. The new release revealed that Artemis Defense had particularly been known for its highly inventive artificial intelligence and automated solutions.
Following the acquisition, Artemis Defense started functioning as a fully owned subsidiary unit of Xalles. That also made Artemis Defense the first member of the Xalles Security business group, which had been newly established by Xalles Holdings. Artemis Defense is based in the United Kingdom and has made its name as a leading player in advanced autonomous technologies.
