Sarasota IT firm buys $6M business

SARASOTA — Axiologix, a local IT firm with a focus on cloud services, intends to acquire a California voice and data management firm with $6 million in annual sales.

Axiologix, which has an office in Dublin, Ireland, in addition to Sarasota, announced the pending deal today in a release. The company, however, says specific details of the transaction, including terms and the name of the business it's buying, won't be released until the acquisition closes. Axiologix says the deal could close within the next four months.

“We look forward to finalizing this significant transaction as soon as possible and delivering on our goal of growing through acquisition of leading companies with excellent management and proven execution in this high-growth market,” Axiologix Chairman and CEO Vincent Browne says in the release.

The company Axiologix is acquiring, according to the release, provides IP voice, data and managed services to small and medium-sized businesses nationwide.

Dennis Mitrano, president of telecom operations at Axiologix, says the acquired company is growing sales 20% a year. Says Mitrano: “The management team has achieved the hardest part in growing any business, acquiring loyal customers, some of which are household names, and achieving profitable operations.”