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Axiologix To Acquire Leading Provider Of IP Voice, Data And Managed Services With Revenues Exceeding $6M Per Year.
Axiologix To Acquire Leading Provider Of IP Voice, Data And Managed Services With Revenues Exceeding $6M Per Year..
About this update from Axiologix Inc
[{"type":"text","content":"\n\n\n\n\n\n\n\nAxiologix To Acquire Leading Provider Of IP Voice, Data And Managed Services With Revenues Exceeding $6M Per Year.\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 To Acquire Leading Provider Of IP Voice, Data And Managed Services With Revenues Exceeding $6M Per Year.\n\nPR Newswire\n\nSARASOTA, Fla., Feb. 20, 2013\n\n\n\n\n\n\n\nSARASOTA, 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.\n\n\nCompletion 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.\n\n\n\nDennis 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, acquiri...