Inpixon (NASDAQ: INPX) rocketing in the market this morning on gains of more than 37% early on. The gains come after the company announced that it has entered into a definitive acquisition agreement that will greatly expand its product offering. Here’s what’s happening:
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INPX Stock Gains On Acquisition Agreement
In a press release issued early this morning, Inpixon announced that it entered into a definitive agreement to acquire Jibestream. Jibestream is a premier provider of indoor mapping and location technology.
INPX sees value in Jibstream as the company offers a full-featured geospatial platform. The platform integrates business data with high-fidelity indoor maps to create smart indoor spaces.
According to the release, Jipstream solutions are deployed in hundreds of buildings in the United States and around the world. Moreover, many of these buildings include marque venues like Mall of America, several VA hospitals , The Pentagon, and more.
The company also said that Jibestream was selected as a “Cool Vendor” in the 2018 Cool Vendors in Location Services for Wayfinding report published by global research firm, Gartner. The company was also named as a Top Geospatial Company in 2019 by Geoawesomeness.
In a statement, Nadir Ali, CEO at INPX, had the following to offer:
The addition of Jibestream’s mapping capabilities and technologies is a pivotal and transformative step in our mission to be the global leader for indoor data. Our ability to provide a single indoor location platform that now provides mapping with what we believe is the most accurate positioning the market has to offer, comprehensive analytics that provide deep, meaningful insights for our customers, and the SDKs and APIs to fuel a thriving partner ecosystem sets us apart from competitors.
Gradually, Inpixon’s indoor location data platform will ingest data from various third party IoT sensors and databases in addition to its own proprietary sensors to deliver information critical to a multitude of industries and disciplines including marketing, customer experience, operations and security. Inpixon’s depiction of indoor data will give each user a unique view of their indoor data, from wayfinding, visitor analytics and marketing campaigns to video camera integration and cybersecurity threat detection. Inpixon’s analytics engine and artificial intelligence will continue to anonymize devices, ensuring privacy and security, as we deliver on our mission to do good with indoor data.
Over the last few months Inpixon has been focused on executing its strategic acquisition strategy allowing it to be able to significantly enhance its capabilities and strengthen its global partner network.
We have established new technology integration partnerships with marquee players, such as IBM and VMware, we’ve expanded our product line to offer entry-level solutions with IPA Wi-Fi and IPA Pod, and we’ve enhanced our technology portfolio with the addition of video management system integration and GPS technology allowing us to expand our solution offerings by seamlessly merging the indoors and outdoors.
Why The News Is So Exciting
At the end of the day, today’s acquisition is a big step in the right direction for Inpixon. The company is working to become the cornerstone in indoor positioning, and has been doing a great job executing thus far.
However, to become the leader, you have to have the latest and greatest in technology. The technology offered through this acquisition will allow INPX to greatly expand its product offering, making it a more attractive option for prospective customers.
All in all, once complete, the acquisition is likely to lead to an increase in revenue and push the company up the ladder on it’s path to becoming THE indoor positioning solution.
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