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Axiologix, Inc. Annual Revenues To Exceed $14 Million With Completion Of Acquisition Of Leading VoIP Service Provider In Emerging Markets
Axiologix, Inc. Annual Revenues To Exceed $14 Million With Completion Of Acquisition Of Leading VoIP Service Provider In Emerging Markets.
About this update from Axiologix Inc
[{"type":"text","content":"\n\n\n\nAxiologix, Inc. Annual Revenues To Exceed $14 Million With Completion Of Acquisition Of Leading VoIP Service Provider In Emerging Markets\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\nAxiologix, Inc. Annual Revenues To Exceed $14 Million With Completion Of Acquisition Of Leading VoIP Service Provider In Emerging Markets\nPR Newswire\nSARASOTA, Fla., Dec. 5, 2013\n\n\n\n\n\n\n\nSARASOTA, Fla., Dec. 5, 2013 /PRNewswire/ -- Axiologix, Inc. (www.axiologix.net) (Pinksheets: AXLX), an International Technology and Services Organization focused on delivering 'Cloud' telecom Products and Services globally, today announced that it has recently completed the acquisition of iWorld Services, a market leader in delivering retail and wholesale VoIP services, products, and advanced web applications and software tools targeting high growth emerging markets.\n\nFounded in 2007, iWorld Services is located in the San Francisco Silicon Valley area and provides market specific turnkey hosted solutions for VoIP resellers, distributors, and small medium businesses globally. It is a market leader in Africa, Middle East and is expanding to South America and Asia.\n\nThe initial consideration of $6 million consists of $750,000 in cash, $2,750,000 in loan notes payable quarterly after 12 months and $2,500,000 in Preferred shares of Axiologix, Inc. There is a potential for additional cash consideration of up to $4,500,000 based on profitability of iWorld Services over the next three years. Axiologix drew an additional $1.75 million from its revolving line of credit with TCA to provide the cash portion of the transaction, cover transaction costs and provide working capital to fund growth of the business going forward. Full details of the transaction and financing have been filed at: http://www.otcmarkets.com/stock/AXLX/filings\n\nThe management team at iWorld is staying with the group post transaction, with Mr. Falchi transitioning from CEO to President of iWorld Services in a continuing role. \n\nMr. Falchi, President of iWorld Services said, \"We are very pleased and excited with...