Infrax acquires SP&C for $5M

ST. PETERSBURG — Infrax Systems Inc., an energy technology company that makes advanced metering products for utility companies, acquired Southern Power & Control, an electrical contractor, for $4.9 million.

Infrax, whose equity is available to investors as an over-the-counter stock, will combine some of its common shares with cash to complete the deal, a release says.

Tampa-based Southern Power generated $22 million in revenues in 2010, according to the release announcing the merger, with average revenues of $18 million over the past five years. In contrast, Infrax appears to still be in the early stages of product development, having generated minimal revenues in 2010 while incurring a nearly $1 million net loss.