Infrax acquires Trimax

Two Gulf Coast technology companies have come together, as St. Petersburg-based Infrax Systems Inc. purchased Trimax Wireless Inc., a Naples-based company, for $10 million in cash and preferred stock.

"The acquisition of Trimax is a critical step in the growth of Infrax Systems," said Infrax CEO Paul Aiello in a release. "Trimax is the perfect complement to Infrax Systems, giving us greater capabilities, industry position, a clear competitive advantage and additional revenue streams.”

As electricity demand increases nationwide over the next few decades, the leaders of the two companies hope their combined capabilities will help them fill a market need.

"We believe our combined technologies and strengths will become a driving force," explained Ulrich Altvater, CEO of Trimax, in a release issued in May when a deal was first announced.

The combined company expects to generate roughly $6 million in revenues in the current fiscal year.