Inpixon Acquires "Blue Dot" Device Positioning Technology and Intellectual Property Assets, Expanding Inpixon Indoor Intellig...
August 20 2020 - 08:30AM
PR Newswire (US)
PALO ALTO, Calif. and TORONTO, Aug. 20, 2020 /PRNewswire/ -- Inpixon (Nasdaq: INPX), a leading indoor data company that delivers Indoor Intelligence™ solutions, today announced it has acquired a suite of on-device "blue dot" indoor location and motion technologies, including patents, trademarks, software and related intellectual property (IP), from Ten Degrees, Inc., Ten Degrees International and certain other affiliated parties.
(PRNewsfoto/Inpixon)
"These assets provide a best-in-class solution for device positioning and can operate without an active internet connection or other infrastructure such as Bluetooth or GPS," noted Nadir Ali, CEO of Inpixon. "The addition of this technology within our suite of capabilities further enhances our indoor intelligence platform as one the most robust, in-house offerings available in the market to meet the full range of indoor intelligence needs."
"We are confident that Inpixon, as a leading provider of indoor intelligence solutions, with its comprehensive technology platform, is the right company to leverage and scale this technology," said Ben Lee, Ten Degrees International Board Director. "We look forward to partnering with Inpixon together with our affiliated companies to offer Inpixon's suite of indoor intelligence products to new customers and vertical markets."
The acquired assets include a patented platform of services to enable a smartphone's precise location to be displayed to the user in a mobile app. The technology includes a location engine that delivers dead-reckoning positioning via information derived from the inertial sensors available in current smartphones to synthesize an accurate indoor location with indoor map information. The algorithms and on-device technology enable sensor fusion by combining data from various smartphone sensors, including accelerometers, gyroscopes, magnetometer and barometer, as well as external beacons, such as BLE, to position a blue dot on a map and to correct for drift. The acquisition portfolio includes ten patents, an extensive API library, iOS and Android SDKs, and software code to support solutions on Linux-based IoT devices. Inpixon intends to integrate these technologies directly into Inpixon Mapping.
With the acquisition, Inpixon has strengthened its Indoor Intelligence platform, which offers a one-stop solution for customers. It also enables Inpixon to expand its supported features and customer use cases to include body movement and direction facing, as well as worker safety applications such as "man down," adding to established use cases such as indoor navigation, workplace readiness and safety, workforce productivity, customer engagement, asset tracking, messaging, security and more.
"With this acquisition we're adding key capabilities to our in-house offering," said Adam Benson, CTO of Inpixon. "The acquired technologies run on a wide variety of smartphone and Linux-based IoT devices without requiring any user calibration to help solve users' day-to-day challenges. We are dedicated to remaining technology-agnostic and supporting a wide variety of third-party blue dot solutions from our robust portfolio of partners, and we are also excited to be able to offer our customers an Inpixon-branded positioning solution as part of our mapping platform."
"We believe these newly acquired technologies can open up significant new markets for Inpixon with customers looking for positioning that doesn't require installation of infrastructure and that has lower configuration and maintenance effort required," added Mr. Ali. "As noted in the report, 'A Review of Pedestrian Indoor Positioning Systems for Mass Market Applications,' 'there is a special interest in developing IPS [indoor positioning systems] that can be easily scaled to mass market applications and deployed in millions of buildings in the world.'"
For further information regarding the terms and conditions of the transaction, the Asset Purchase Agreement under which the assets were acquired and other related transactions, please see Inpixon's Current Report on Form 8-K, which will be filed with the Securities and Exchange Commission, in connection with this transaction.
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