PALO ALTO, Calif. and
TORONTO, Aug. 20, 2020 /PRNewswire/ -- Inpixon
(Nasdaq: INPX), a leading indoor data company that delivers Indoor
Intelligence™ solutions, today announced it has acquired a suite of
on-device "blue dot" indoor location and motion technologies,
including patents, trademarks, software and related intellectual
property (IP), from Ten Degrees, Inc., Ten Degrees International
and certain other affiliated parties.
"These assets provide a best-in-class solution for device
positioning and can operate without an active internet connection
or other infrastructure such as Bluetooth or GPS," noted
Nadir Ali, CEO of Inpixon. "The
addition of this technology within our suite of capabilities
further enhances our indoor intelligence platform as one the most
robust, in-house offerings available in the market to meet the full
range of indoor intelligence needs."
"We are confident that Inpixon, as a leading provider of indoor
intelligence solutions, with its comprehensive technology platform,
is the right company to leverage and scale this technology," said
Ben Lee, Ten Degrees International
Board Director. "We look forward to partnering with Inpixon
together with our affiliated companies to offer Inpixon's suite of
indoor intelligence products to new customers and vertical
markets."
The acquired assets include a patented platform of services to
enable a smartphone's precise location to be displayed to the user
in a mobile app. The technology includes a location engine that
delivers dead-reckoning positioning via information derived from
the inertial sensors available in current smartphones to synthesize
an accurate indoor location with indoor map information. The
algorithms and on-device technology enable sensor fusion by
combining data from various smartphone sensors, including
accelerometers, gyroscopes, magnetometer and barometer, as well as
external beacons, such as BLE, to position a blue dot on a map and
to correct for drift. The acquisition portfolio includes ten
patents, an extensive API library, iOS and Android SDKs, and
software code to support solutions on Linux-based IoT devices.
Inpixon intends to integrate these technologies directly into
Inpixon Mapping.
With the acquisition, Inpixon has strengthened its Indoor
Intelligence platform, which offers a one-stop solution for
customers. It also enables Inpixon to expand its supported features
and customer use cases to include body movement and direction
facing, as well as worker safety applications such as "man down,"
adding to established use cases such as indoor navigation,
workplace readiness and safety, workforce productivity, customer
engagement, asset tracking, messaging, security and more.
"With this acquisition we're adding key capabilities to our
in-house offering," said Adam
Benson, CTO of Inpixon. "The acquired technologies run on a
wide variety of smartphone and Linux-based IoT devices without
requiring any user calibration to help solve users' day-to-day
challenges. We are dedicated to remaining technology-agnostic and
supporting a wide variety of third-party blue dot solutions from
our robust portfolio of partners, and we are also excited to be
able to offer our customers an Inpixon-branded positioning solution
as part of our mapping platform."
"We believe these newly acquired technologies can open up
significant new markets for Inpixon with customers looking for
positioning that doesn't require installation of infrastructure and
that has lower configuration and maintenance effort required,"
added Mr. Ali. "As noted in the report, 'A Review of Pedestrian
Indoor Positioning Systems for Mass Market Applications,' 'there is
a special interest in developing IPS [indoor positioning systems]
that can be easily scaled to mass market applications and deployed
in millions of buildings in the world.'"
For further information regarding the terms and conditions of
the transaction, the Asset Purchase Agreement under which the
assets were acquired and other related transactions, please see
Inpixon's Current Report on Form 8-K, which will be filed with the
Securities and Exchange Commission, in connection with this
transaction.
About Inpixon
Inpixon® (Nasdaq: INPX) is the Indoor Intelligence™ company that
specializes in capturing, interpreting and giving context to indoor
data so it can be translated into actionable intelligence. The
company's Indoor Intelligence platform ingests diverse data from
IoT, third-party and proprietary sensors designed to detect and
position active cellular, Wi-Fi, UWB and Bluetooth devices. Paired
with a high-performance data analytics engine, patented algorithms,
and advanced mapping technology, Inpixon's solutions are leveraged
by a multitude of industries to do good with indoor data. This
multidisciplinary depiction of indoor data enables users to
increase revenue, decrease costs, and enhance safety. Inpixon
customers can boldly take advantage of location awareness,
analytics, sensor fusion and the Internet of Things (IoT) to
uncover the untold stories of the indoors. For the latest insights,
follow Inpixon on LinkedIn, 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,
our ability to integrate newly acquired technologies and products
into our operations, including the technology and assets described
in this release, the fluctuation of economic conditions, the impact
of COVID-19 on Inpixon's results of operations, the performance of
management and employees, the regulatory landscape as it relates to
privacy regulations and their applicability to Inpixon's
technology, Inpixon's ability to maintain compliance with Nasdaq's
minimum bid price requirement and other continued listing
requirements, including during a panel monitoring period ending on
February 5, 2021, the 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.
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SOURCE Inpixon