- Use Cases
PALO ALTO, Calif. and TORONTO, Oct. 5, 2020 /PRNewswire/ -- Inpixon (Nasdaq: INPX), a leading indoor data company that delivers Indoor Intelligence™ solutions, today announced that it has entered into a definitive agreement to acquire Nanotron Technologies GmbH (“nanotron”), a global location awareness technology company. The transaction is expected to increase Inpixon revenues by over $5 million on an annual basis and to be accretive.
Nanotron, headquartered in Berlin, Germany, has established itself over the past two decades as a leading provider of innovative IoT solutions for real-time location systems (RTLS) and indoor and outdoor positioning solutions utilizing both industry-standard technologies, such as ultra-wideband (UWB), and patented proprietary wireless communication technologies, such as Chirp Spread Spectrum (CSS). Nanotron was named by MarketsandMarkets as one of the vendors dominating in the global UWB market along with Apple, Samsung, Decawave, NXP and others.
Inpixon believes this acquisition is transformational for the company due to several factors, including, that it will:
Nadir Ali, CEO of Inpixon, commented, “Nanotron’s first-in-class products, patents, and other assets significantly enhance our overall Indoor Intelligence platform. Through this acquisition, we are adding one of the foremost engineering teams in the industry -- a pioneer in the development of location-based technologies. Through the integration of technologies, we look forward to providing seamless integration across both indoor and outdoor positioning applications."
Soumya Das, Chief Operating Officer of Inpixon, added, “Nanotron’s Chirp technologies are unique and give Inpixon a formidable offering for tag tracking in the 2.4 GHz ISM band, with accuracy to the one-meter level and up to five hundred meter in range. The 30-centimeter accuracy offered by UWB is essential to helping our large enterprise and government customers address some particularly tough challenges. Additionally, nanotron's tag-to-tag communication methodologies can be incorporated into Inpixon's Workplace Readiness solutions for advanced social distancing and contact tracing capabilities to help businesses reopen safely. We intend to leverage nanotron’s established global customer base, as well as their extensive system integrator and reseller relationships, in order to expand our customer reach, as well as to provide significant cross-selling and up-selling opportunities."
Nanotron’s IoT sensors, tags, tag modules and software incorporate the following technologies and positioning methodologies:
Third-party market research firm MarketsandMarkets projects the location based services (LBS) and real-time location systems (RTLS) market will grow from USD $17.8 billion in 2020 to USD $39.2 billion by 2025, at a compound annual growth rate (CAGR) of 17.1%. Specific to UWB, MarketsandMarkets estimates the global UWB market will grow from USD $1.1 billion in 2020 to USD $2.7 billion by 2025, at a CAGR of 19.6%.
In accordance with the terms of a Share Purchase Agreement, dated October 5, 2020 (“Purchase Agreement”), Inpixon, through its wholly-owned subsidiary, Inpixon GmbH, as purchaser will acquire 100% of the outstanding capital stock of nanotron with cash on hand for an aggregate purchase price of $8.7 million. This transaction is anticipated to close on or about October 6, 2020. For further information regarding the terms and conditions of the acquisition contained in the Purchase Agreement, please see Inpixon’s Current Report on Form 8-K, which will be filed with the Securities and Exchange Commission and available at www.sec.gov.
Answers to frequently asked questions about this announcement can be found on the FAQ available here.
Management will host a conference call today, Oct. 5, 2020, at 4:30 p.m. Eastern Time to discuss the Company’s corporate progress and other developments. The call will be hosted by members of the Inpixon leadership team including Chief Executive Officer Nadir Ali, Chief Financial Officer Wendy Loundermon, Chief Operating Officer Soumya Das, Chief Technology Officer Adam Benson, and Chief Revenue Officer Tyler Hoffman.
The conference call will be available via telephone by dialing toll free 877-407-8035 for U.S. callers or +1 201-689-8035 for international callers, or on the Company’s Investors section of the website: ir.inpixon.com.
A webcast replay will be available on the Company’s Investors section of the website (ir.inpixon.com) through October 5, 2021. A telephone replay of the call will be available approximately one hour following the call, through October 12, 2020 and can be accessed by dialing 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering conference ID: 37903.
Nanotron is a leading provider of electronic location awareness solutions. If knowing what, where and when is mission-critical to your business, rely on nanotron with Location Running. Nanotron’s solutions deliver precise position data augmented by context information in real-time. Location Running means, reliably offering improved safety and increased productivity, 24 hours a day, 7 days per week: Location-Awareness for the Internet of Things (IoT). More information at nanotron.com.
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 Nanotron Technology and business 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, including during a panel monitoring period ending on February 5, 2021, 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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