Inpixon Acquires Portfolio of GPS Technologies to Bridge the Market's Indoor-Outdoor Positioning Gap
July 01 2019 - 8:30AM
Inpixon (Nasdaq: INPX), a leading indoor positioning and data
analytics company, today announced it has completed the acquisition
and licensing of a broad portfolio of global positioning system
(GPS) assets and intellectual property from GTX Corp (OTCQB: GTXO),
located in Los Angeles CA, previously announced on May 28, 2019.
The transaction will allow Inpixon to expand the breadth of
available solutions it can offer to enterprise and government
customers and includes an anticipated $1 million plus customer
pipeline with schools and government agencies, in addition, to the
following assets:
- Patents and Licenses: An intellectual property portfolio that
includes a registered patent, along with more than twenty pending
patent applications or licenses to registered patents or pending
applications relating to GPS technologies.
- Smart School Safety Network: Design documentation comprised of
hardware schematics, design files, data flow and architecture
documentation for detecting wireless signals emitted from students'
wireless devices (ID badges, wrist-based devices, etc.) to assist
staff and first responders with campus safety and security.
- GPS tracking technology including a smartphone app and device
monitoring portal: Will allow for monitoring the location of GPS
devices in near-real-time and provide the ability to set up
geofencing, get alerts and SOS's, analyze reports.
- Ground Personnel Safety System (GPSS): Certain hardware,
software and design documentation for a private, hybrid GPS + RF
(900MHz), 256-bit AES-encrypted wide area network (WAN) to track
personnel, vehicle and assets for ground situational awareness and
real-time surveillance.
- GPS-device-to-rifle attachment hardware design: Design of the
hardware that enables a GPS tracking device to be attached to a
rifle via the Picatinny rail system for accountability, awareness,
progress monitoring and safety.
"By leveraging our GPS technologies, radio frequency (RF)
expertise, artificial intelligence and patented algorithms, we will
be able to merge indoor and outdoor positioning data into a single
user interface, with the ability to seamlessly locate persons or
assets as they travel between the indoor and outdoor,” said Nadir
Ali, CEO of Inpixon. “This is especially important in smart cities,
large properties, and campus settings including enterprises,
hospitals, mass transit, government facilities and schools."
"Inpixon’s acquisition of the complete design and intellectual
property portfolio underlying the Smart School Safety Network
solution allows us to directly partner with educators to help make
schools a safer place for students, faculty and administrators. Our
planned school safety solution will detect the presence of campus
trespassers, disseminate messages related to an impending or
existing emergency, locate students in need, and enable first
responders to navigate from outdoor-to-indoor, right to the
incident. We're currently proposing systems to a number of schools
within and outside of the U.S., in an effort to increase security
and safety within educational institutions."
About Inpixon
Inpixon (Nasdaq: INPX) is a leader in Indoor Positioning
Analytics (IPA). The Inpixon IPA platform includes sensors 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 fluctuation of economic conditions, the performance of
management and employees, Inpixon’s ability to successfully
generate sales from its customer pipeline, 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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