- Use Cases
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."
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.
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