USA: Inpixon, a leading indoor positioning and data analytics company, has 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.