ST. PETERSBURG, Fla.,
May 5, 2011 /PRNewswire/ -- INFRAX
SYSTEMS, Inc. (OTC BB: IFXY - News), a global provider of unified
Smart Grid-related products and services for the Energy and Utility
industries, provided additional clarification today regarding the
acquisition of controlling interest in Lockwood Technology
Corporation, a leading RFID software and hardware solutions
provider, from Daedalus Capital, LLC.
As previously disclosed, Infrax Systems acquired 70% interest in
Lockwood Technologies from Daedalus Capital, LLC. The
Daedalus Capital, LLC in this transaction is based in Boca Raton, Florida and should not be confused
with the Daedalus Capital, LLC based in St Louis, Missouri. Other than a similar
name, there are absolutely no ties, or relationships of any
kind between these entities.
The Daedalus Capital, LLC based in Boca Raton is managed by Ken Baritz, a well-known and respected
Telecommunications Executive. Mr. Baritz has a wealth of
experience creating value in the technology sector, having run
AMNEX, a publicly traded Long Distance company with revenues in
excess of $140M in the 90s, serving
as Founder and CEO of Access One Communications, which was
sold in 2001 for $218 million,
as President of TALK AMERICA, with revenues in excess of
$750M, and as CEO of Cleartel
Communications, with revenues in excess of $180M. Mr. Baritz is also the Managing
Director of Templar Alliance, a Private Equity firm out of
Boca Raton, Florida.
"We are pleased with our relationship with Daedalus Capital and
wanted to clear up any confusion that may exist," stated
Paul Aiello, CEO of Infrax Systems.
"The combination of Lockwood Technology and Infrax Systems
will benefit our shareholders, customers and employees by offering
additional opportunities for revenue growth and technology
development."
About Lockwood Technology Corporation
Since 1994 Lockwood Technology has focused on developing world
class asset tracking software and asset tracking services. Our
development teams have built efficient integrated systems for
clients worldwide. Our client base includes entities from many
vertical markets including: finance, healthcare, hospitality,
manufacturing, transportation, law enforcement, education, federal
government, public sector, legal, telecommunications and insurance.
Fortune 500 companies throughout the world choose Lockwood as the solution that fits their need.
Our affiliate program extends throughout the United States, Canada, Europe, Asia
and the Pacific Rim. Our Asset
Tracking & Management Software easily tracks assets using bar
coding, radio frequency (RFID), imaging, and wireless technologies.
Our Large Enterprise Edition is a client/server, multi-user,
menu-driven asset database manager which runs on MS Windows XP,
Vista and Windows 7 operating system, utilizes SQL Server 2005
& 2008 and can track virtually anything!
Lockwood also offers a complete
line of Mobile Information Systems products, which are compatible
with Windows Mobile and that feature: bar coding, RFID, biometric,
imaging and wireless technologies. Lockwood products are offered for licensed
in-house use or as a hosted (SaaS) solution.
For Lockwood Technology information, visit
www.lockwoodtechnology.com
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 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 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
SOURCE Infrax Systems, Inc.