Bedminster, NJ (PRWEB) June 14, 2012
Axiologix Inc. (http://www.axiologix.net), (AXLX.PK) an International Technology and Services Organization focused on delivering ‘Cloud’ Products and Services today provides an update on the performance of the recently acquired Prime Carrier business (http://www.primecarrier.com).
Prime Carrier’s ‘MOST’ solution is an easy-to-use Cloud-based software solution that supports the complex inter-carrier trading of international voice traffic and reduces an operator’s termination costs by ensuring that the best available rates are used in their network routing. The newly acquired business, based in Dublin, Ireland, has a customer base spanning all corners of the globe, including market-leading operators such as RomTelecom, UPC, BSkyB, Jajah (Telefonica), Telecom Colombia USA and KVH. Since the acquisition, Prime Carrier has won some additional new business bringing current recurring annual revenues to in excess of $1 million generating gross margins of 95% and a positive net income.
The recent acquisition of the Prime Carrier business was undertaken 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 and was primarily funded by the assumption of debt that is to be repaid over 2 years and the issuance of AXLX stock. Full details of this transaction can be found in the Company’s Supplemental Information Statement filed through the OTC Markets Disclosure and News Service on April 20, 2012.
Vincent Browne, Chairman and Chief Executive of Axiologix Inc., said, “This was the first acquisition we made as part of the new direction for Axiologix focusing on Cloud services and technologies. We have exciting growth plans for Prime Carrier into new markets targeting mobile service providers and emerging IP operators that will require this solution as their business models develop. We also have a number of initiatives underway to expand our partnerships to introduce new products and services to our existing and loyal customer base. In addition to growing organically with Prime Carrier, we are at various stages of agreement to acquire further companies in the Cloud services area, that will increase operations and growth if and when completed.”
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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 New Jersey, with international operations in Dublin, Ireland. Additional information may be found at http://www.axiologix.net
This press release contains forward-looking statements. Words such as "expects", ''intends'', ''believes'', and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the Securities and Exchange Commission and the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.