Inpixon to Acquire Indoor Mapping Leader Jibestream
July 10 2019 - 8:30AM
Inpixon (Nasdaq: INPX) (the “Company” or “Inpixon”), a leading
indoor positioning and data analytics company, announced today that
it has signed a definitive agreement to acquire Jibestream Inc.
("Jibestream"), a premier provider of indoor mapping and location
technology.
Jibestream offers a full-featured geospatial platform that
integrates business data with high-fidelity indoor maps to create
smart indoor spaces. Jibestream states their solution is deployed
in hundreds of buildings globally including numerous marque venues
such as Mall of America, The Pentagon, Westfield World Trade
Center, San Francisco International Airport, several Veteran
Affairs hospitals and Mall of the Emirates. Jibestream was selected
as a "Cool Vendor" by global research firm Gartner in the 2018 Cool
Vendors in Location Services for Wayfinding report, and was named
as a Top Geospatial Company in 2019 by Geoawesomeness.
"The addition of Jibestream’s mapping capabilities and
technologies is a pivotal and transformative step in our mission to
be the global leader for indoor data," said Nadir Ali, Inpixon CEO.
"Our ability to provide a single indoor location platform that now
provides mapping with what we believe is the most accurate
positioning the market has to offer, comprehensive analytics that
provide deep, meaningful insights for our customers, and the SDKs
and APIs to fuel a thriving partner ecosystem sets us apart from
competitors. Gradually, Inpixon’s indoor location data platform
will ingest data from various third party IoT sensors and databases
in addition to its own proprietary sensors to deliver information
critical to a multitude of industries and disciplines including
marketing, customer experience, operations and security. Inpixon's
depiction of indoor data will give each user a unique view of their
indoor data, from wayfinding, visitor analytics and marketing
campaigns to video camera integration and cybersecurity threat
detection. Inpixon's analytics engine and artificial intelligence
will continue to anonymize devices, ensuring privacy and security,
as we deliver on our mission to do good with indoor data."
"Over the last few months Inpixon has been focused on executing
its strategic acquisition strategy allowing it to be able to
significantly enhance its capabilities and strengthen its global
partner network," continued Mr. Ali. "We have established new
technology integration partnerships with marquee players, such as
IBM and VMware, we've expanded our product line to offer
entry-level solutions with IPA Wi-Fi and IPA Pod, and we've
enhanced our technology portfolio with the addition of video
management system integration and GPS technology allowing us to
expand our solution offerings by seamlessly merging the indoors and
outdoors."
"Bringing Jibestream and Inpixon together is a winning
combination that will be unprecedented in the market," commented
Chris Wiegand, Jibestream CEO. "This acquisition will grant both
companies access to a more comprehensive suite of products bringing
even greater benefits to our customers and partners. Combined, we
will have a unique and powerful portfolio with the potential to
further our commitment to making the indoor world digitally
addressable changing the way people live, work and play
indoors."
Answers to frequently asked questions about this announcement
can be found on the FAQ available here.
The proposed acquisition consists of a purchase price that
includes a combination of cash and equity and is subject to
customary closing conditions. For additional details, please
reference the Company’s current report on Form 8-K to be filed with
the U.S. Securities and Exchange Commission.
About Jibestream
Jibestream is an award-winning software company that specializes
in merging the location dimension into enterprise solutions for
real-time visual intelligence. The company's premier indoor mapping
platform gives developers the tools to create tailored map-enabled
web and mobile applications while having centralized management of
all associated data. For more information, please visit
jibestream.com or connect with Jibestream on LinkedIn, Twitter and
Facebook.
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 acquisition which is subject to the terms
of the definitive agreement, the Company’s ability to integrate
Jibestream’s indoor mapping technology into its platform, the
fluctuation of economic conditions, the performance of management
and employees, 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.
ContactInpixon Investor Relations:CORE IRScott Arnold, Managing
Director+1 516-222-2560www.coreir.com
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