PALO ALTO, Calif., May 28, 2019 (GLOBE NEWSWIRE) -- Inpixon (Nasdaq: INPX), a leading indoor positioning and data analytics company, today announced it intends to acquire certain GPS products, software, technologies, and intellectual property from a U.S. based company specializing in global positioning system (GPS) technologies. The transaction is anticipated to expand Inpixon’s patent portfolio and will include certain granted or licensed patents and GPS and RF technologies.
"The GPS and outdoor RF locationing technology we intend to acquire is a great complement to Inpixon's indoor positioning technology," said Nadir Ali, Inpixon CEO. "This technology will allow us to merge indoor and outdoor positioning data into a single platform, and to leverage Inpixon's artificial intelligence algorithms and other intellectual property to deliver what we believe will be one of the first solutions to market that can seamlessly track an asset or person's location as they transition between the indoor and outdoor."
"The ability to provide a unified platform for seamless location tracking and communication between the outdoors and indoors will be beneficial for a myriad of use cases, including shopping malls, stadiums and office buildings,” noted Mr. Ali. “Most importantly, this solution is expected to serve as the basis for our Smart School safety network solution, allowing first responders, who often use GPS technology to plot an efficient course to the building in which an incident is occurring and also navigate to the scene of such incident within the building."
"The GPS products, software, technologies, and intellectual property that we intend to acquire will significantly augment Inpixon's planned Smart School offering," Mr. Ali added. "Inpixon’s Smart School solution will detect wireless signals emitted from wireless devices and student identification badges or student-worn wrist-based devices with technology including GPS, cellular and Bluetooth on a school’s campus. This solution may allow school staff and responders to identify the location of unwelcome individuals on school property. The integrated notification system will be capable of disseminating messages relating to an impending or existing emergency. In addition, with our recent acquisition of Locality Systems, we will also be able to integrate our technology with school video surveillance and access control and communications systems as part of an overall security management solution, providing critical locational context during usual and emergency conditions."
The Company has entered into a non binding letter of intent but has not entered into a definitive agreement for the proposed transaction. Accordingly, there can be no assurance that the transaction will occur. The proposed transaction is subject to the satisfaction of due diligence, negotiating the terms of, and executing, a definitive agreement relating to the proposed transaction and obtaining and satisfying all other necessary closing conditions. Furthermore, the terms of the transaction is expected to include a combination of cash and equity but is still subject to discussion and may be changed as a result of any material positive or adverse change to the business of either party. Accordingly, there can be no assurance that a transaction will be entered into or that the proposed transaction will be consummated on the terms described in this press release or at all.
About Inpixon
Inpixon (Nasdaq: INPX) is a leader in Indoor Positioning Analytics (IPA). Inpixon IPA Sensors are designed to find all accessible cellular, Wi-Fi, and Bluetooth devices anonymously. Paired with a high-performance data analytics platform, this technology delivers visibility, security, and business intelligence on any commercial or government location worldwide. Inpixon’s products and professional services group help customers take advantage of mobile, big data, analytics, and the Internet of Things (IoT) to uncover the untold stories of the indoors. For the latest insight on IPA, follow Inpixon on LinkedIn, @InpixonHQ on Twitter, and visit inpixon.com.
Safe Harbor Statement
All statements in this release that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the control of Inpixon and its subsidiaries, which could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, the consummation of the asset purchase agreement which is subject to the terms of a definitive agreement, the fluctuation of economic conditions, the performance of management and employees, the consummation of the acquisition described in this press release, Inpixon’s ability to obtain financing, competition, general economic conditions and other factors that are detailed in Inpixon’s periodic and current reports available for review at sec.gov. Furthermore, Inpixon operates in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Inpixon disclaims any intention to, and undertakes no obligation to, update or revise forward-looking statements.
Contact
Inpixon Investor Relations
CORE IR
Scott Arnold, Managing Director
+1 516-222-2560
www.coreir.com