Palm Beach, FL – (June 20, 2018) – Innovative Payment platforms as well eCommerce solutions have been one of the biggest growth sectors in the consumer and business arenas for the past 20 years. Shopping from the comfort of one’s home — or anywhere — has become increasingly popular as delivery has gotten faster, interfaces have improved, and the near ubiquity of smartphones has made mobile shopping even easier. The $2.3 trillion global eCommerce market alone is expected to more than double by 2021 resulting in a massive consumer shift to online and mobile shopping. Active companies in the markets today include: Xalles Holdings Inc. (OTC:XALL), eBay Inc. (NASDAQ:EBAY), PayPal Holdings, Inc. (NASDAQ:PYPL), Cotiviti Holdings, Inc. (NYSE:COTV), Amazon.com (NASDAQ:AMZN).
Xalles Holdings Inc. (OTCPK:XALL) BREAKING NEWS: Xalles, a company focusing on accelerating fintech companies, leveraging blockchain technology for financial reconciliation, and payment auditing solutions, recently completed an Asset Purchase Agreement for the acquisition of 100% of the assets and intellectual property of www.usasavingsclub.com, a consumer discount shopping club and fundraising service.
Xalles will create a new wholly owned subsidiary to operate an international network of savings clubs based on the USA Savings Club design. The original management team will be part of the new subsidiary and lead the U.S team. Xalles will provide additional resources for domestic growth and international expansion.
USA Savings Club has agreements with thousands of name brand merchants which establishes the base for expansion within the first few regions around the U.S. National brands and local merchants will participate in the program by offering discounts to consumers while supporting local schools and other not-for-profit organizations. Xalles expects to leverage the synergy between this company and the other consumer commerce and payment subsidiaries that are already part of the Xalles family of companies.
“This acquisition gives Xalles the ability to combine strengths of a few of our subsidiaries to offer consumers a way to shop locally at a discount while helping non-profit organizations in their fundraising through a passive and year-round method,” said Xalles CEO, Thomas Nash. He continued, “We believe the combined offering through our existing and new distribution channels will change the way people shop in their local communities.” Read this and more news for Xalles at: http://www.marketnewsupdates.com/news/xall.html
In other industry developments in the markets:
eBay Inc. (NASDAQ:EBAY) kicked off the first-ever community sneaker drop, inviting enthusiasts everywhere to list their most coveted pairs. With streetwear reigning supreme this summer, eBay’s drop will culminate on Wednesday, June 27 at 7:00AM PT, when a curated collection of scouted kicks – from rare grails to trending styles – will be revealed at eBay.com/SneakerDrop. As part of the drop, sneakerheads can also look to score eBay exclusive prices on select styles DIRECT from adidas, Stadium Goods and Reebok, all with free shipping.
PayPal Holdings, Inc. (NASDAQ:PYPL) announced that it has agreed to acquire Hyperwallet, a leading global payout platform, for $400 million in cash, subject to certain adjustments. The acquisition of Hyperwallet enhances PayPal’s payout capabilities, improving the company’s ability to provide an integrated suite of payment solutions to ecommerce platforms and marketplaces around the world. According to Internet Retailer, marketplace sales accounted for more than 50% of global online retail sales in 2017.
Cotiviti Holdings, Inc. (NYSE:COTV), a leading provider of payment accuracy and analytics-driven solutions focused primarily on the healthcare industry, and Verscend Technologies, Inc. (“Verscend”), a portfolio company of Veritas Capital (“Veritas”) and a leader in data-driven healthcare solutions, announced that they have entered into a definitive agreement whereby Verscend has agreed to acquire Cotiviti for $4.9 billion in cash. Under the terms of the agreement, Cotiviti shareholders will receive $44.75 in cash per share of Cotiviti common stock, and Verscend will assume all of Cotiviti’s outstanding debt, resulting in an enterprise value of approximately $4.9 billion. The offer price represents a 32% premium to Cotiviti’s unaffected share price as of June 4, 2018 and a 136% premium to the initial public offering price of Cotiviti’s common stock.
Amazon.com (NASDAQ:AMZN) announced its selections for Best Books of the Year So Far, naming Tara Westover’s memoir Educated: A Memoir the top pick overall. The annual list is hand selected by the Amazon Books Editors and features the Top 20 books released between January and June 2018—offering readers a mid-year look at the best books. “Whether you enjoy reading in print or Kindle, or listening on Audible, the past six months have delivered some unforgettable books across a range of genres, from Kristin Hannah’s Alaska-based family drama, The Great Alone, to The Feather Thief, Kirk Wallace Johnson’s account of one of the weirdest crimes ever committed for the sake of a flute,” said Sarah Harrison Smith, editorial director of Amazon Books and Kindle.
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