Fidelity
Home > Boards > Free Zone > Penny Trading - Technical > BB's Stock Haven

$AXLX .0019 Axiologix To Acquire Leading Provider Of

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
j$tops Member Profile
Member Level 
Followed By 696
Posts 99,921
Boards Moderated 7
Alias Born 08/27/06
160x600 placeholder
U.S. Stocks Fall; PMI, Home Sales Disappoint
U.S. stocks deepened losses after a pair of disappointing reports on manufacturing and the housing market, putting the S&P 500 and Nasdaq Composite on track to break their six-day winning streaks.
Top Equities Stories Of The Day
Ackman: Poison Pill Is Way for Allegan to Explore Alternatives -CNBC
Glaxo, AstraZeneca Lead U.K. Stocks To Two-week High
Comcast Profit Rises 30% on Video Subscriber Additions-- 2nd update
Client Balances at Morgan Stanley Wealth Management Near Merrill Lynch
Apple, Facebook, Amazon Off As Techs Retreat
Correction to AT&T Earnings Story
Correction to Yum Earnings Story
Ford Operating Chief Mark Fields to Become CEO -- Update
j$tops Member Level  Thursday, 03/07/13 06:36:56 PM
Re: None
Post # of 3346532 
$AXLX .0019 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

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist