Axiologix Continues Its Acquisition Plans With The Addition Of $3 Million Cloud Service Provider

SARASOTA, Fla., July 11, 2013

The acquisition, when consummated, will bring annual revenues in excess of $3 million to the group with positive EBITDA of 10% to 15%. The target acquisition currently operates its own network, delivering Wireless/Wimax, Metro Ethernet and Fiber based services. Its hosting platforms provide VoIP, Hosted PBX, DNS, E-mail Services; Web & Database Management; Data Center Collocation; VPN & Secured Network Services and Monthly Maintenance services to over 600 business customers.

These services are complimentary to those of Velocity Networks, Inc. AXLX completed definitive agreements with Velocity in June. Both Velocity and the new acquisition will have significant cross-sell opportunities to existing customers to accelerate revenue growth. Management has also identified reductions to the operating costs of both companies through the use of shared service and network assets, resulting in increased income from existing revenue streams.

Dennis Mitrano, President of Telecom Operations at Axiologix, commented, "We are clearly very pleased to announce another complimentary acquisition in line with our core growth strategy. This will be a great addition to our existing profitable business that will bring our combined group revenues to over $9 million per year and will deliver sustained profitability going forward. We look forward to completing these acquisitions as soon as possible. I am personally looking forward to working with our expanding team of professionals as we build a nationwide operation together."

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About Axiologix, Inc.