Washington, D.C.-based fintech company Xalles Holdings has acquired U.K. firm Artemis Defense Technologies focused on unmanned systems and artificial intelligence solutions. It said Artemis is already operating as its fully integrated subsidiary and the first unit of the newly formed Xalles Security business group.
According to Xalles, Artemis is geared to expand its U.S. footprint, targeting major programs at the Pentagon, such as the Replicator program and the tri-nation AUKUS alliance of Australia, the United Kingdom and the United States.
Following the transaction, Artemis CEO and founder Carl Cagliarini will stay on to lead the Artemis expansion in the United States. Among the executive’s industry experience include national security technology solutions for several FIFA World Cup and Olympic events.
Thomas Nash, Xalles chairman and CEO, called the acquisition “a game-changer,” aligning with the company’s goal of portfolio diversification and enhanced shareholder value.
