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Axiologix Continues Its Acquisition Plans With The Addition Of $3 Million Cloud Service Provider
Axiologix Continues Its Acquisition Plans With The Addition Of $3 Million Cloud Service Provider.
About this update from Axiologix Inc
[{"type":"text","content":"\n\n\n\n\n\n\n\nAxiologix Continues Its Acquisition Plans With The Addition Of $3 Million Cloud Service Provider\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nAxiologix Continues Its Acquisition Plans With The Addition Of $3 Million Cloud Service Provider\n\nPR Newswire\n\nSARASOTA, Fla., July 11, 2013\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSARASOTA, Fla., July 11, 2013 /PRNewswire/ -- Axiologix, Inc. (www.axiologix.net) (OTC Pink: AXLX), an International Technology and Services Organization focused on delivering Cloud-based Products and Services, announced today that it is continuing to move forward with its acquisition strategy with the completion of a Letter of Intent to acquire a fast growing Managed Service Provider currently delivering business grade voice, data and managed services to small and medium enterprises (SMEs). Details of the transaction are not being disclosed pending completion of the necessary due diligence and definitive agreements. The transaction is expected to close within the next 90 days, subject to completion of due diligence and funding.\n\n\n\nThe acquisition, when consummated, will bring annual revenues in excess of $3 million to the group with positive EBITDA of 10% to 15%. The target acquisition currently operates its own network, delivering Wireless/Wimax, Metro Ethernet and Fiber based services. Its hosting platforms provide VoIP, Hosted PBX, DNS, E-mail Services; Web & Database Management; Data Center Collocation; VPN & Secured Network Services and Monthly Maintenance services to over 600 business customers.\n\n\n\n\nThese services are complimentary to those of Velocity Networks, Inc. AXLX completed definitive agreements with Velocity in June. Both Velocity and the new acquisition will have significant cross-sell opportunities to existing customers to accelerate revenue growth. Management has also identified reductions to the operating costs of both companies through the use of shared service and network assets, resulting in increased income from existing revenue streams.\n\n\n\n\nDennis Mitrano, President of Telecom O...