Infrax Systems (IFXY) Provides Clarification Relating to Purchase of Controlling Interest in RFID Pioneer Lockwood Technology

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 [email protected] 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.
[email protected]
727-498-8514

SOURCE Infrax Systems, Inc.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED