INFRAX SYSTEMS, Inc. (IFXY), www.infraxinc.com – one of the world’s top providers of unified Smart Grid-related products and services to the energy and utility sectors, announced the completion of the acquisition of Trimax Wireless Inc., a leading developer of carrier-grade broadband wireless technology.
CEO of IFXY, Paul Aiello, called the acquisition a “critical step” in the evolution and growth of the Company and pointed out how Trimax’s core competencies dovetail perfectly with IFXY’s operational profile, yielding superior capabilities, industry position and a clear competitive advantage, in addition to new revenue streams.
Mr. Aiello praised Trimax’s innovative technological achievements and called those achievements “the key to solving the connectivity issues” arising from the deployment of thousands of intelligent devices throughout the electrical grid.
The Company specializes in offering a broad array of interrelated operational management, communications, and grid security-related products and services collectively known as the Secure Intelligent Energy Platform (SIEP), representing a comprehensive and ultimately unified framework for communications and application management of the Smart Grid.
Furthermore, IFXY’s SIEP platform enables the secure management of an Advanced Metering Infrastructure (AMI) and automated distribution consistent with monitoring, real-time pricing and Demand Side Management (DSM) initiatives.
The acquisition itself follows accordingly the earlier announcement of a $10M-plus preferred stock offering.
Trimax is a very good acquisition for the Company, with $1.2M in revenues from broadband in 2009 with a projected $6M for 2010.
Trimax has a core suite of wireless broadband technologies, and has developed the multi-protocol hardware which will provide utility companies the robust, dependable and ultimately cost-effective solution for last-mile, two-way communications for the upgrade of old meters and upgrading of newer ones.
With over 2k base stations sold, Trimax has created a backbone which can support in excess of 1M devices in the US, Europe, Latin America, Africa and New Zealand.
CEO of Trimax, Uli Altvater, said the acquisition would benefit customers tremendously due to the combined scale and strength of the two companies, asseverating Aiello’s idea and noting that this acquisition is an important step forward for Trimax as well.
Smart meter proliferation is estimated to reach 13.6M units by the end of 2010, and 33M by 2011. Globally, the figure is projected to exceed 212M units, making it a $46B market by 2014 – a market which IFXY stands poised to capitalize on, creating incredible growth potential for its shareholders.