PALO ALTO, Calif., April 26, 2021 /PRNewswire/ -- Inpixon
(Nasdaq: INPX), the Indoor Intelligence™ company, today announced
the acquisition of a suite of augmented reality (AR), computer
vision, localization, navigation, mapping, and 3D reconstruction
technologies, including patents, trademarks, software and related
intellectual property, from Visualix. The solutions leverage
patent-pending technologies and a smartphone's camera and on-board
sensors to create 3D models of indoor spaces; position the user on
a map with centimeter-level accuracy; provide turn-by-turn,
visually-guided navigation; overlay virtual artifacts onto the live
map displaying key information, such as room name, amenities,
photos or reviews; and make the navigated experience sharable with
others.
Independent researchers have validated AR mapping's benefits and
market growth potential. Cornell
University's "AR Mapping: Accurate and Efficient Mapping for
Augmented Reality" study reports that, "Augmented reality (AR) has
gained increasing attention from both research and industry
communities. By overlaying digital information and content onto the
physical world, AR enables users to experience the world in a more
informative and efficient manner." Further, research firm
MarketsandMarkets projects the mobile augmented reality market
to grow at a compound annual growth rate of 31.1% from $7.6 billion in 2020 to $29.5 billion by 2025, and states the increased
interest of large technology companies in mobile AR apps is one of
the driving factors for the growth of the mobile augmented reality
market.
AR industry publisher ARNote reviewed the Visualix solution and
wrote, "Visualix is one of the leading platforms for creating
persistent maps and models of real spaces." They also stated, "3D
mapping like that required for Visualix has historically required
expertise, time, and advanced technology. However, developers using
Visualix can do these scans using smartphone cameras." The article
described the Visualix platform as, "a unique and powerful tool for
organizations that want to embrace navigation through AR
applications."
"Merging the virtual and physical worlds can transform the way
we interact with our environment, tell stories, and utilize
information," noted Nadir Ali, CEO
of Inpixon. "The opportunities for augmented reality and computer
vision to create smarter, safer and more secure spaces are nearly
limitless -- everything from navigation, asset tracking and
smart-office applications to customer service, marketing and
gamification. Both existing and potential customers have already
expressed a desire for AR technologies. This acquisition
illustrates our commitment to continuous innovation and integration
of industry-leading, best-of-breed technologies positioning Inpixon
to be able to meet this next wave of technology demand."
Soumya Das, COO of Inpixon,
added, "The Visualix solution's simultaneous localization and
mapping (SLAM) algorithms and related technologies can enable map
creation and localization without requiring beacons or external
sensors, which can simplify development and deployment. We intend
to integrate and leverage these spatial computing and visual
positioning technologies to pursue new verticals as well as enhance
existing offerings. We believe the technology and talent brought
into Inpixon with this transaction will be a game changer that
unlocks significant new opportunities in the commercial, industrial
and consumer markets."
Visualix co-founder Michael Bucko
stated, "Our co-founder Darius
Pajouh and I are very excited to be joining the Inpixon team
and to begin integrating the computer vision and augmented reality
technologies into the Inpixon Indoor Intelligence platform."
Darius Pajouh added, "We believe AR
and its related features are moving into the mainstream and are
poised to become part of nearly every smart phone users' daily
experience. Inpixon is the perfect home for Visualix technologies,
and we look forward to bringing the power and extraordinary
benefits of AR and spatial mapping to businesses and their
employees around the world."
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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