AXLX Closes Acquisition: Axiologix Updates Shareholders and Potential Investors on Recent Developments and New Strategy
GlobeNewswirePress Release: Axiologix, Inc.
BEDMINSTER, N.J., June 7, 2012 (GLOBE NEWSWIRE) -- via PRWEB - Axiologix, Inc. (www.axiologix.net), (AXLX.PK) an International Technology and Services Organization focused on delivering Cloud-based Products and Services, today provides the following corporate update to shareholders and potential investors on its strategy following the acquisition of VOIP ACQ Inc and the sale of its education operations.
On January 17, 2012 Axiologix acquired substantially all of the assets and liabilities of VOIP ACQ, Inc., which had a number of agreements to make acquisitions in the VoIP and Cloud Services markets. On March 5, 2012 Axiologix completed the first of these acquisitions with the purchase of the assets and intellectual property of Prime Carrier (www.primecarrier.com) via Axiologix Limited, a wholly owned subsidiary of AXLX, registered in Dublin, Ireland. The transaction included the transfer of all Intellectual Property, Customer Contracts and Employees. On May 10, 2012 Axiologix sold its education company to Mr. John Daglis, the previous CEO and Director for the return of approximately 24 million shares of AXLX restricted common stock held by him.
In line with these transactions and to better reflect the future strategy, a majority of the Company's shareholders, through written consent, voted to change the Company's name to Axiologix, Inc., increase the total authorized common stock and authorize a class of preferred stock. Full details of these Amendments can be found in the Company's Supplemental Information Statement to be filed later today through the OTC Markets Disclosure and News Service.
Axiologix, Inc. will primarily focus on becoming a nationwide Service Provider of Voice, Data and Cloud services to small and medium size businesses primarily in the United States, and to other operators globally, by acquiring strategic technology assets and existing turnkey VoIP and independent operators. Axiologix's strategy is to make carefully selected acquisitions that will improve shareholder value by using group resources to ensure that each operating company has the tools they need to be competitive in the market place and benefit from the economies of scale provided by a larger organization that are not otherwise available to them on their own.
This opportunity has arisen from the large number of new entrants into the emerging VoIP Telecommunications market over the past number of years that have been successful in acquiring customers and revenues but are unable to achieve sufficient scale to deliver sustainable growth without further investment that has been hard to find in recent years.
The VoIP services market is experiencing significant growth, with leading analyst company Infonetics Research, recently predicting that the number of seats for hosted business VoIP is on track to more than double between 2012 and 2016. Demand for cloud-based services helped push hosted PBX and unified communication services revenue up 33% last year. A recent report by Gartner shows the VoIP market is growing at a 36% compound annual growth rate in North America through 2015. Ovum, a market-leading analyst, predicts that fixed VoIP revenues in United States will reach nearly $9 billion by 2014.
Vincent Browne, Chairman and Chief Executive of Axiologix, Inc. said, "Axiologix will continue to focus on acquiring companies that have proven existing revenue streams with neutral or positive cash-flows/EBITDA at time of acquisition so that greater profits can be generated from the combined entities. As such, all of Axiologix's operating companies will benefit from the economies of scale associated with becoming part of a larger group. Each will be more competitive, have more resources to draw from, and will be more secure financially. All of which offer greater security to their customers and their staff. We have now put the necessary corporate structure and identity in place to allow us to execute this strategy and we look forward to announcing future developments as they occur.
Here's the link to the press release: http://finance.yahoo.com/news/axiologix-updates-shareholders-potential-investors-133057037.html