Inpixon, a Leader in Indoor Positioning Analytics, to Acquire Locality Systems Inc.
April 10 2019 - 8:30AM
Inpixon (Nasdaq: INPX) (the “Company” or “Inpixon”), a leading
indoor positioning and data analytics company, today announced it
has signed a non-binding term sheet to acquire Locality Systems
Inc. (“Locality Systems”), a technology company based near
Vancouver, Canada, specializing in wireless device positioning and
radio frequency (RF) augmentation of video surveillance systems.
The acquisition is expected to be accretive and is
anticipated to have a purchase price consisting of a combination of
cash and equity.
Locality Systems' Wi-Fi positioning system technologies deliver
advanced visitor analytics, and the company's video management
system (VMS) integration technologies enhance traditional security
video feeds by overlaying wireless device detection and tracking.
The VMS integration, currently available for a number of leading
VMS vendors, enables security personnel to identify potential
suspects, and to track their movements cross-camera and even from
one facility to another.
“We’re excited at the prospect of combining Locality Systems
within the Inpixon family. Locality's visitor information
solution fits nicely into our IPA Intelligence line-up as a
Wi-Fi-only offering that complements our IPA Sensors,” said Nadir
Ali, Inpixon CEO. “Its enhanced video surveillance solution
combines strategically with our sensor fusion and video integration
product enhancement initiatives to deliver a powerful Security Dome
product.”
“I believe Inpixon will be a great home for our location
intelligence technology,” commented Kirk Moir, Locality Systems
CEO. “I believe we will be one of very few companies, in a global
$36 billion video surveillance market, to offer Wi-Fi, Bluetooth
and cellular detection integrated with deployed video security
platforms. I anticipate our current and prospective location
intelligence partners will be able to use these new capabilities to
differentiate their offerings and to solve some tough problems that
can only be addressed by going beyond standalone and Wi-Fi-only
detection.”
“Most security cameras pick up only that which is visible to the
eye,” noted Soumya Das, Inpixon COO. “Inpixon’s Security Dome RF
detection enables one to see the unseen. I expect we'll have
significant cross-selling opportunities within Inpixon's government
and security customers who will be excited to adopt the new
capabilities that we will be able to offer following the planned
acquisition of Locality Systems.”
The Company 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
are 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 Locality Systems Inc.
Founded in 2012 by wireless systems experts with extensive
backgrounds in mobile and first responder technology, Locality
Systems is a leading provider of location intelligence solutions to
commercial, retail and public venue operators. Locality's patent
pending sensor hardware, cloud-based software, and integrations
with leading security platform providers enable customers to
leverage location intelligence to enhance operations and to make
existing security infrastructures more intelligent and proactive.
For more information, visit LocalitySystems.com.
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 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.
ContactInpixon Investor Relations:CORE IRScott Arnold, Managing
Director+1 516-222-2560www.coreir.com
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