PALO ALTO, Calif., July 01, 2019 (GLOBE NEWSWIRE) -- 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."
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.
Inpixon Investor Relations:
Scott Arnold, Managing Director