Infrax Systems Inc (IFXY)

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FutureWorld Energy----DIVY Shares making moves.

FutureWorld Energy to acquire Arctic Solar Engineering
Thursday 10/28/2010 2:30 PM ET - Datamonitor Financial Deals Tracker

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As of 10:29 AM ET 10/28/10
FutureWorld Energy, Inc., a provider of alternative, renewable and clean energy technologies, has entered into a letter of intent (LoI) to acquire Arctic Solar Engineering, LLC, a supplier and integrator of solar thermal systems and absorption units. Both the companies are based in the US.

Under the terms of the LoI, FutureWorld Energy will acquire Arctic Solar Engineering assets for approximately $2 million in preferred stock, 50% of which will be tied to an earn-out agreement that will be based on projected pipeline revenue.

Deal Type Acquisition
Sub-Category Majority Acquisition
Deal Status Announced: 2010-10-27
Deal Participants

Target (Company) Arctic Solar Engineering, LLC
Acquirer (Company) FutureWorld Energy, Inc.
Deal Rationale

The transaction will allow FutureWorld to provide a complete turnkey commercial building solar system that uses no conventional energy and resulting in 60%+ energy savings to the client. The acquisition will also strengthen the company's long-term growth outlook and solidify its position in the solar sector.