Axiologix To Acquire Leading Provider Of IP Voice, Data And Managed
Services With Revenues Exceeding $6M Per Year.
SARASOTA, Fla., Feb. 20, 2013 /PRNewswire/ -- Axiologix Inc.
(www.axiologix.net), (AXLX) an International Technology and
Services Organization focused on delivering 'Cloud' Products and
Services today announces that it has completed a Letter of Intent
to acquire 100% of a leading California based provider of IP voice, data
and managed services to small and medium enterprises (SMEs) across
the United States. Details of the
transaction are not being disclosed until completion of the
necessary due diligence, which has commenced, and signing of
definitive agreements. Subject to successful completion of the
above and Axiologix closing the necessary funding, the transaction
is expected to close within the next 120 days.
Completion of the acquisition would bring immediate additional
annual revenues in excess of $5
million to the group and is EBITDA positive. When
consolidated with other pending acquisitions in the VoIP market,
the combined operating costs can be reduced due to shared common
services and network cost reductions, therefore generating more
positive income from the existing revenue streams when
combined.
Dennis Mitrano, President of Telecom
Operations at Axiologix, commented, "We are pleased to announce
the advancement of our stated core growth strategy. This
announcement stems from a number of ongoing discussions with
similar providers and marks a significant milestone in the
execution of our business plan. It is a great, accretive
acquisition to our existing profitable business. We are delighted
with the deal and with the company and look forward to bringing
this exciting company into our expanding group. The management team
has achieved the hardest part in growing any business, acquiring
loyal customers, some of which are household names, and achieving
profitable operations. They are also growing at 20% per year and I
am personally looking forward to working with them as we build a
nationwide operation together."
Vincent Browne, Chairman and Chief
Executive of Axiologix, said, "We look forward to finalizing
this significant transaction as soon as possible and delivering on
our goal of growing through acquisition of leading companies with
excellent management and proven execution in this high growth
market. One of the most exciting things to come from our strategy
is the ability to add additional value added services, that each
company has, and upsell these to the loyal customers of the other
companies. This significantly reduces our new customer acquisition
costs making the group more competitive overall going
forward."
About Axiologix, Inc.
Axiologix Inc. is an International Technology and Services
Organization focused on delivering Cloud-based Products and
Services to small and medium sized businesses primarily in
the United States and to operators
globally. Axiologix is headquartered in Florida, with international operations in
Dublin, Ireland. Additional
information may be found at www.axiologix.net
This press release contains forward-looking statements. Words
such as "expects", "intends'', "believes'', and similar expressions
reflecting something other than historical fact are intended to
identify forward-looking statements, but are not the exclusive
means of identifying such statements. These forward-looking
statements involve a number of risks and uncertainties, including
the timely development and market acceptance of products and
technologies, the ability to secure additional sources of finance,
the ability to reduce operating expenses, and other factors
described in the Company's filings with the Securities and Exchange
Commission and the OTC Markets Group. The actual results that the
Company achieves may differ materially from any forward-looking
statement due to such risks and uncertainties. The Company
undertakes no obligation to revise or update any forward-looking
statements in order to reflect events or circumstances that may
arise after the date of this release.
SOURCE Axiologix, Inc.