ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

IFXY Infrax Systems Inc (PK)

0.00055
0.00005 (10.00%)
30 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Infrax Systems Inc (PK) USOTC:IFXY OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00005 10.00% 0.00055 0.0005 0.0006 0.0006 0.0005 0.00055 2,790,140 19:03:09

Infrax (IFXY) Signs Definitive Agreement to Acquire Southern Power & Controls

11/01/2012 1:00pm

Marketwired


Infrax Systems (PK) (USOTC:IFXY)
Historical Stock Chart


From Jul 2019 to Jul 2024

Click Here for more Infrax Systems (PK) Charts.

INFRAX SYSTEMS, Inc. (OTCBB: IFXY), a global provider of unified Smart Grid-related products and services for the Energy and Utility industries, announced today that they have executed the definitive agreement to complete the purchase of Tampa, Florida-based Southern Power & Controls Corporation (SP&C). The acquisition signifies Infrax's next step towards securing the energy grid by adding implementation of security and control systems to its portfolio of utility and smart grid related products and services. The transaction is expected to close by the end of the next quarter, subject to customary closing conditions.

How This Transaction Benefits Infrax Systems and our Shareholders:

  • SP&C Combined EBITDA positive revenues for prior 3 year period in excess of $50,000,000
  • Estimated 2012 forward revenue in excess of $18,000,000
  • Estimated 2012 EBITDA in excess of $1,000,000
  • Through SP&C, Infrax will be considered the premier contractor in the Southeast for installation of complex electrical systems
  • Workforce with extensive experience in high voltage applications and required certification
  • Enhance performance reputation among water, wastewater and power generation markets

Infrax and SP&C bring strength to smart grid implementations The complexity of today's smart grid implementations require a skilled workforce capable of operating in both high and low voltage environments, adept at wireless infrastructure implementations, and technically proficient with regard to both design and installation of complex control and security systems. SP&C's versatility adds these capabilities and more to Infrax's Secure Intelligent Energy Platform offering.

The success of any advanced metering and automation project relies on the quality of the organization responsible for the successful implementation of the designed solution. As a leader in complex control system installations for over 20 years, SP&C has a proven track record of success in the electrical construction arena.

The acquisition of SP&C is the first of several planned acquisitions focused on implementation and human capital, rather than purely on technology. The company plans to expand SP&C's reach both domestically and globally through acquisition, as well as organic growth.

The new implementation business unit, including SP&C, will be led by William Barry, SPC's Founder and President. Barry brings to Infrax a stellar reputation for outstanding financial results, attracting talent, building world class teams, and developing technical prowess.

Despite difficult market conditions, SP&C has delivered in excess of $50,000,000 in revenue during the past 3 year period and has generated positive EBITDA over the same period.

Says Barry: "The opportunity to combine our operations with Infrax provides the new entity with a wide range of opportunities in the energy sector and opens doors for both products and service."

Extending the Value of Infrax's Secure Smart Grid Products Utilities are faced with a technological dilemma today; whether to continue to implement metering solutions without robust security, only to have guidelines imposed at a later date which invalidate their application or select a solution based on the latest security technology, one which will meet or exceed all impending guidelines and mandates.

Infrax's Secure Network Interface Card (SNIC) has been designed from the ground up with security as its first priority and communications as its second. The SNIC incorporates the latest in both encryption and authentication technologies, providing Utilities with future proof secure technology.

The acquisition of SP&C allows Infrax to provide utilities with design and implementation support in addition to the supply of hardware and software systems. SPC's extensive expertise in power generation, transmission systems and control automation, also allows Infrax to provide complete electrical implementation services to our utility customers, expanding our focus beyond metering applications.

"Bill and the SP&C team have created a template for operational excellence and a corporate culture that will be used to set the standard for our operations as we grow and potentially acquire additional companies," stated Paul Aiello, CEO of Infrax.

Details Regarding the Impending Transaction

The transaction is expected to close by the end of Infrax's third fiscal quarter ending March 31, 2012, subject to customary closing conditions. The transaction is expected to have a material impact on revenue for end of FY12 and FY13. Infrax will provide additional information in its next quarterly filing in February.

About INFRAX Systems Infrax Systems offers a series of interrelated operational management, communications, and grid security related products and services known as Secure Intelligent Energy Platform (SIEP). Our products enable a comprehensive and unified solution for communications and applications management of the Smart Grid. SIEP™ incorporates a wide array of communications, security, device and data management tools for Smart Grid applications such as advanced metering solutions and grid optimization. SIEP platform creates a unified solution to securely manage Advanced Metering Infrastructure (AMI) and distribution automation. Infrax's secure smart grid platform incorporates a communications transport and management system (Grid Mesh™), device and data security management, and ultimately secures intelligent endpoint devices (SIED). The secure management of the "last mile" backhaul will be necessary for utilities to implement Smart Grid applications including AMI, real-time pricing, Demand Side Management (DSM), Distribution Monitoring and Automation. When combined, these applications can offer secure, economic, operational and environmental benefits for utilities, and ultimately the utility's customers.

For INFRAX Systems information, contact Investors@Infraxinc.com or visit www.infraxinc.com.

Forward-Looking Statements This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.

Contact: Media Contact: Infrax Systems, Inc. investors@infraxinc.com 727-498-8514

1 Year Infrax Systems (PK) Chart

1 Year Infrax Systems (PK) Chart

1 Month Infrax Systems (PK) Chart

1 Month Infrax Systems (PK) Chart

Your Recent History

Delayed Upgrade Clock