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.