PALO ALTO, Calif., March 26, 2021 /PRNewswire/ -- Inpixon (Nasdaq:
INPX), the Indoor Intelligence™ company, today announced it will
acquire a controlling interest of the outstanding capital stock of
Game Your Game Inc. ("Game" a.k.a., Game Golf) an app-based sports
performance analytics firm using IoT sensors, maps and location
technologies. Game is focused on the golf industry with a suite of
products that serve golfers and golf facilities, with technology
that has the capability to be leveraged in other sports. The
company also named Richard "Rick" Clemmer, former CEO of NXP
Semiconductors, a leading provider of embedded controllers for
industrial internet of things (IIoT), mobile, and communications
infrastructure with 2020 revenues of $8.6
billion, to Inpixon's board of advisors. Mr. Clemmer is a
co-investor in Game Your Game.
Mr. Clemmer served as CEO and executive director of NXP
Semiconductors from 2009 until May
2020 and continues to serve as a strategic advisor to NXP.
Prior to NXP, he was a senior advisor of Kohlberg Kravis Roberts
& Co., a private equity and global investment firm. He also
served in leadership roles at Agere Systems (the Lucent SC
company), NCR Corporation, u-Nav Microelectronics, and Quantum
Corporation. Mr. Clemmer was named by Data Economy to its inaugural
EDGE 50 list of the world's top edge computing influencers.
"We are very fortunate to have the opportunity to work with
someone of Rick's stature and expertise and look forward to
partnering with him on Game as well as benefiting from his support
and advice for Inpixon," said Nadir
Ali, CEO of Inpixon. "We anticipate great success in
leveraging Rick's experience and relationships to scale Inpixon to
the mass market. Additionally, we look forward to expanding Game's
market and to exploring the synergies around Inpixon's and Game's
technologies for positioning, maps, analytics and mobile apps."
"This is an especially exciting time for Inpixon," noted Mr.
Clemmer. "Inpixon's location technologies and Indoor Intelligence
platform provide a strong foundation for growth and value creation,
as well as the ability of using Game to provide a true sports IoT
platform. I am delighted to have the opportunity to work with
Nadir, the Board, and the executive team to help support Inpixon's
continued market leadership. I'm also eager to maximize the
potential of Game Your Golf in which we have a joint interest."
Game Your Game is a sports performance data analytics technology
company predominantly focused on the golf industry, and its assets
include multiple patents issued and pending. Game's leading
product, Game Golf PRO, is one of golf's most powerful &
accurate GPS shot tracking systems. The sensors allow fully
automated shot detection and include yardages hit by each club.
Game Golf PRO is designed to help players improve their scores
and to enable course managers, greenskeepers and architects to
lower costs and improve the pace of play. The company states it has
an industry leading dataset including 37,000+ mapped golf courses,
and 250 million rounds tracked in 125+ countries by 200,000+ users.
Game Golf was previously awarded Golf Digest's Editor's Choice of
Best Golf Analyzer.
The transaction is subject to the terms and conditions of a
Stock Purchase Agreement, including 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 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,
the fluctuation of economic conditions, the impact of COVID-19 on
Inpixon's results of operations, Inpixon's ability to integrate the
products and business from recent acquisitions into its existing
business, 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, 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.
Inpixon Contacts
Media relations and general inquiries:
Inpixon
Email: marketing@inpixon.com
Web: inpixon.com/contact-us
Investor relations:
Crescendo Communications, LLC
Tel: +1 212-671-1020
Email: INPX@crescendo-ir.com
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SOURCE Inpixon