Next Group Holdings Announces Signed Agreement for Acquisition of AIM (Accent Intermedia), a Program Manager for Stored Value Solutions
MIAMI, July 5, 2016 /PRNewswire/ - Next Group Holdings, Inc. (OTCQB: NXGH) (the "Company") today announces that it has signed a definitive agreement to purchase from Dean Keatin Marketing, LLC ("DKM") Transaction Processing Products, Inc. (TPP, a Wyoming company), to acquire a controlling interest in AIM. The company AIM over the last 10 years in business has successfully generated over $1 Billion of stored value activations through its proprietary software and systems.
AIM provides the support, enterprise stored value product management software, and logistics infrastructure to some of the nation's largest known brands (Harley Davidson, AMC Theaters and SuperValu Supermarkets) to host Closed Loop (Gift Card) and Open Loop (Prepaid Debit / General Purpose Reloadable) card programs. AIM has developed its own in-house fraud prevention tool that reduces "card not present" fraud to less than 1%. In addition, AIM provides warranty processing for Gift Card, Prepaid and Warranty offerings on its proprietary copyrighted intellectual property. AIM has provided these services for several multibillion dollar Fortune 500 companies over the past 10 years.
AIM is currently directly contracted with I2C, Metro Bank and Money Gram. This shall allow NXGH to expand its Financial and remittances portfolio from its current NEXTCALA white label program (Next CALA Inc., a NXGH subsidiary), into Gift Cards, Co-Branded Open Loop reloadable cards, along with domestic and international remittances. This combination of the two will expand aggressively "Live your mobile lifestyle".
"Acquiring controlling interest in AIM will provide Next Group Holdings with a full duplex platform to reach our target markets with a variety of with our financial products offerings," said Arik Maimon, NXGH's Chairman and CEO. "AIM has established itself as an innovative, reliable and capable program manager for stored value products. This shall enable NXGH to have a unique proposition over its competitors," added Maimon.
"NXGH, together with its proprietary technology and its next generation HD Video platform AVYDA, which will be provided as a rewards program to all financial services customers, will change the way people are communicating and will improve the customer service experience," said Dennis Varghese. "After AIM being in business for over 10 years, I am proud to see AIM integrate with NXGH, which will be the leader in next generation financial services for the ones that adopt their banking services with mobile banking," added Varghese.
AIM technology solution operates in a redundant facility with PCI Level 1 compliant processing, maintaining a "zero single point of failure infrastructure" with multiple power grid supplies, 24/7/365 monitored infrastructure with multi-tier support, intrusion detection and prevention systems. Effective immediately, this processing service will be processing all of NXGH's services and products, including: Tel3 Pin-Less Customers, MVNO's Co-Branded Customer Portfolio and AVYDA HD Video per minute subscribers. All shall be under one technology umbrella, which was developed by AIM and will be able to provide a friendly navigation interface for the suite of NXGH subsidiary products. This marries both the heritage and robust proprietary Telecommunications and Financial roots for both NXGH and AIM's respective proprietary expertise in the financial stored value solution platforms and telecom verticals, all as one unified technology. This marriage will give the group the ability to accelerate all products to grow the group profitability and revenue at a more expedited pace and be prepared for the 2016 holiday season, especially with the new division of selling and manufacturing gift cards.
About Us: NXGH is a corporation headquartered in Miami, Florida, which, through its operating subsidiaries, engages in the business of using proprietary technology and certain licensed technology to provide innovative mobile banking, mobility, and telecommunications solutions to underserved, unbanked, and emerging markets. NXGH's principal executive offices are located at 1111 Brickell Avenue, Suite 2200, Miami, Florida 33131, and its telephone number at that location is (800) 611-3622. NXGH's web address is www.nextgroupholdings.com.
THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS", AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE, WHICH ARE NOT PURELY HISTORICAL, ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE. EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS"ESTIMATE", "ANTICIPATE", "BELIEVE", "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS NEWS RELEASE INCLUDE STATEMENTS RELATING TO OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY.
Contact:
NEXT Group Holdings, Inc. (OTCQB: NXGH) Telephone: 1-800-611-3622
[email protected]
SOURCE Next Group Holdings, Inc.
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