Luxutor Group Acquires XMart E-commerce and DomSol from Digital Placebo, LLC

Luxutor Group completed it's acquisition of DomSol and XMart E-commerce today.

Chicago, IL (PRWEB) June 11, 2006 -- Today representatives of Luxutor Group, an investment group based in Chicago, announced the acquisition of XMart E-commerce and DomSol from New York based, Digital Placebo, LLC.

XMart E-commerce is a fledgling e-commerce product that began as the first fully integrated shopping cart solution built exclusively for Paypal. Representatives of Luxutor Group expressed optimism that XMart can be updated to compliment new technologies built by Paypal, an eBay company.

DomSol is a domain registration service that specializes in enterprise domain management and dynamic domain names that allow consumers to "name their own PCs" and access them from anywhere in the world using a basic web connection. Representatives of Luxutor Group were extremely pleased at this acquisition as it will allow other investments the opportunity to partner with DomSol and alleviate costs of DNS and domain names.

Mark Cummings, Senior Chairman and Investor, explains, "We have our work cut out for us with XMart, but I believe that it was founded on a good principle. Small businesses lack a good, inexpensive solution to sell their unique goods online. XMart was once the de facto standard, but it has fallen to the wayside due to poor development, lack of customer service and pessimism among the former directors. Our development plan will tackle these issues and we will work with Paypal to develop an innovative product that will benefit small merchants around the world. We're excited about this acquisition.

"DomSol, on the other hand, will continue to grow as its demand continues to explode. It also helps alleviate costs of running our other entities since they will provide us with low cost services that we need. We also inherit a slough of valuable domain registrations that can help with branding our future solutions."

Luxutor Group plans on releasing a completely revamped version of XMart in 2007, but has said it will not maintain it's name. XMart will, however, maintain it's principles of developing low-cost e-commerce solutions for small merchants globally.

Financial terms of the acquisition were not made available and Luxutor representatives declined to comment on the subject.

For more information about XMart E-commerce please visit www.xmart.net. For more information on DomSol please visit www.domsol.com. For more information about Luxutor Group please visit www.luxutor.com.

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