INFRAX SYSTEMS, a provider of unified smarter utility-related products and services for the energy and utility industries, has signed an agreement to acquire Southern Power & Controls (SPC), a privately held electrical contractor in Tampa, Fla., for approximately $4.9 million mostly in cash, plus a combination of notes and stock at closing.

SPC provides mission-critical control applications for utility, industrial and security applications. Following the acquisition, INFRAX will continue to support Southern Power & Control's customer base and expand its product portfolio to include INFRAX's smart grid products.  

The acquisition will also enable INFRAX to expand their relationships with electric utilities. SPC’s experience with water and gas utilities will also open additional markets for INFRAX security and communications solutions, company officials said.

INFRAX anticipates significant revenue growth by adding SPC's design and installation capabilities to their Secure Intelligent Energy Platform.

“SPC is a recognized leader in the implementation of complex performance critical systems and has an impressive track record of operational and financial performance with over 15 years of increasing profitability,” said Paul J. Aiello, CEO of INFRAX Systems, in a statement.

According to Aiello, the established customer relationships of SPC make them a perfect addition to the INFRAX Family particularly at the moment smart grid technology is on the top of the utility industry agenda.

A significant asset to INFRAX will be SPC technical team's expertise. It will help the company in the implementation and maintenance of complex electrical and control systems, which in turn, will significantly augment INFRAX's technical capabilities.  

“We are excited about the opportunity to join the INFRAX team and further expand our portfolio to include the implementation of their smart grid and communications solutions. The relationships we have built over the last 17 years should be a terrific inroad for INFRAX to sell their smart grid portfolio,” said William Barry, founder and CEO of SPC, in a statement.