Powernet, founded in 1992 as PNG Telecommunications, is based in Cincinnati, Ohio. Maxis360, founded in 2003, has offices across Florida. The combined company maintains the Powernet name, led by CEO Allison Stevens. Maxis360 CEO Chris Ghosio, President Jeff Foster, and Senior VP Tony Wells join Powernet’s leadership team.
Powernet and Maxis360 have had a cross-selling relationship since 2016 that spans voice, data, WiFi, and managed IT services. Among the areas of success: Maxis360 promoted Powernet’s Public Safety Signal Booster technology to Florida clientele.
Describing the deal, Stevens said:
“The merger between these two companies will serve to strengthen the team’s overall ability to serve our customers. We’re thrilled to have so many talented team members from Maxis360 that share our core values & beliefs join Powernet. This is an exciting new chapter in the company’s history.”
“Combining the two companies’ services allows us to provide a truly dynamic solution for our clients. We expect this merger to allow us to further differentiate ourselves from competitors through our ability to provide a complete and innovative solution with the latest and most advanced technology available in an environment where technology is rapidly advancing on a daily basis.”
Technology Services Evolution
CEO Allison Stevens has consistently evolved Powernet's platforms and services as her role expanded from COO (2005) to CEO (2013). The company more than tripled annual wireless and IP product revenue during the CEO transition timeframe, according to Powernet's website.
The company also has deep roots with the Cincinnati community, engaging local businesses, schools and neighborhoods through improved access to cutting-edge technology, Powernet says.
Meanwhile, Maxis360 has been a long-term Digium partner with some M&A experience. A 2014 buyout of Panama City-based Inacomp nearly doubled Maxis360's size at the time. Inacomp had 250 customers and 15 employees when that deal was finalized.
Additional reporting by Joe Panettieri.