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Orlando, Fla. --- Axena, Inc., a provider of corporate governance
software and services that is a University of Central Florida
Technology Incubator client, and Mirabilis Ventures, Inc. a
$500 million private equity fund, formed an exclusive partnership
recently to brand and market powerful software systems for
Professional Employer Organizations (PEOs) and insurance and
financial institutions.
Frank Hailstones, chief executive officer of Orlando-based Axena,
which has satellite offices in Canada and England, said the partnership
is already emerging as the leading technology provider in its growing
market segment.
About 700 PEOs in all 50 states generate some $42 billion in
gross revenues annually, according to the National Association
of PEOs.
“PEOs are a large and steadily growing industry segment,” Hailstones
explained. “Their compliance with more than 1,000 different
U.S. and international laws and standards governing human resources
and risk management and their transactions with insurance and financial
services providers are critical to their success, and the technology
portal we are developing empowers both in ways no other business
application is able,” he said.
Las Vegas-based Mirabilis, which maintains offices in Orlando,
owns a major share in one publicly-traded PEO, Presidion Solutions,
and plans to invest aggressively in more, Hailstones said. Mirabilis
plans to adopt Axena’s SOAx™ software in all companies
it owns or acquires, according to Hailstones.
“Our partnership assures Mirabilis leading-edge technology
to reduce risk and assure compliance with all appropriate regulations
and standards,” Hailstones said. “At the same time,
the technology we are developing positions Axena as a leading provider
of corporate governance and risk management technology worldwide.”
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For more information, please contact:
Natalia Warren, Axena, Inc. 407-447-0050, ext. 213 (www.axena.com)
Tom O’Neal or Carol Ann Dykes, UCF-Technology Incubator,
407-882-0202
Larry Vershel, Larry Vershel Communications, 407-644-4142
About the UCF Technology Incubator
Since its founding in 1999, the UCF Technology Incubator has helped
more than 80 emerging technology companies create over $175 million
in revenue and more than 600 new jobs with an average salary
of $59,000. As a result of this success, the UCF Technology Incubator
was recently named the 2004 Technology Incubator of the Year
by the National Business Incubation Association. Headquartered
in Research Park near the University, the Incubator is a true
collaboration in economic development between UCF, Orange County,
the City of Orlando the Florida High Tech Corridor Council and
the Metro Orlando Economic Development Commission.. For more
information, please visit http://www.incubator.ucf.edu
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