Shares of ALUF Holdings Inc (OTCMKTS: AHIX) are exploding on the confirmation the company is poised to acquire Interaqt Corporation. The acquisition is poised to expand the company’s footprint into the business of offering data center, infrastructure services.
AHIX Holdings Price Analysis
The acquisition has helped strengthen investor confidence in the stock after months of wild swings. Aluf Holdings, market sentiments, took a hit in February after the then Chief Executive Officer Glenn W. Milligan resigned, citing serious health complications.
The company has since formed a new board of directors tasked with the responsibility of spearheading the next phase of growth. The formation of a new board comes at a time when the company is plotting an expansion into the biometrics and blockchain technology space.
A spike of 220% in share price does not come as a surprise given that Aluf Holdings has underscored its long-term prospects in view of recent developments. While the stock is engulfed in a steep uptrend, it remains to be seen if the upward momentum has what it takes to continue pushing the stock higher.
Aluf Holdings needs to rise and find support above the $0.01 mark, if it is to elicit the much-needed interest, especially from institutional investors.
About Aluf Holdings
Aluf Holdings is a development stage company focused on the development of proprietary software as well as algorithms and hardware for data mining of computer hard drives and magnetics. It also bills itself as a holding company focused on the identification, acquisition, and management of aggressive growth of companies.
Why is Aluf Holdings Exploding?
Shares of Aluf Holdings have taken a flight on Aluf Holding expanding its footprint into the cloud-computing sector with the acquisition of Interaqt Corporation COLOTRAQ. Headquartered in New Jersey, COLOTRAQ is a global sourcing advisory firm for data center, infrastructure services.
With the acquisition, Aluf Holdings gains access to DCITRAX an industry first cloud-based software that makes it easy for people to source cloud Colocation and Connectivity.
“The market position and technological strength of COLOTRAQ will make this acquisition significant to our long-term growth strategy with a particular focus on IT Infrastructure, Data Center and Cloud Services. COLOTRAQ has a 20-year proven track record of providing high-performance solutions and support services to multinational corporate enterprises and government agencies,” stated CEO Teresa McWilliams.
Blockchain and Biometrics Expansion
The acquisition comes on the heels of the company forming a new board of directors expected to guide the company as it moves to concentrate on Biometrics and blockchain technologies. Aluf Holdings is eyeing potential acquisitions as it looks to gain a head start in the biometric space.
Expansion into the Biometrics space comes at a time of growing demand for solutions capable of protecting people’s data as well as privacy. Biometrics systems are slowly taking over especially in payments systems to facilitate commerce online.
Biometrics systems are also being used to grant access to secure facilities such as hotels, homes, and offices. ALUX Holdings intends to integrate blockchain technology into biometrics to deliver proper biometrics data and solutions for enhanced security.
The new board is made up of highly accomplished visionaries whose talents would be relied upon as the company pursues opportunities in the two fast-emerging sectors. Some of the members include Philip Elias CEO of Elias-Savion Advertising and Andrew Moore CEO of CogxVision
“Our Board represents the top of the food chain in aviation, private equity, communications, and artificial intelligence, biometrics, and blockchain technologies. We are now in a strong position, backed by deep experience, to leverage our expertise for optimum shareholder value,” says Donald Bennett, Chairman of the Board.
What Next For Aluf Holdings
Aluf Holdings has taken a significant hit over the past few years an underperformance that has seen it languish below the $0.01 mark. However, a 220% plus a spike in share price cannot be taken for granted as it underscores renewed investor interest.
A spike in share price and trading volume signals that investors are slowly taking interest in the company, following the acquisition of COLOTRAQ. The company expanding its toes into blockchain and Biometrics space, on the other hand, underscores a diversification strategy as part of a new growth strategy.
Aluf Holdings remains well positioned to continue climbing given the strength of the upward momentum.
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Disclosure: We have no position in AHIX and have not been compensated for this article.