Inpixon Enters Contract for Nearly One Million Square Feet of Mapping at Headquarters of One of the World's Largest Public Companies
PALO ALTO, Calif. and TORONTO, Dec. 18, 2020 -- Inpixon (Nasdaq: INPX), the Indoor Intelligence(TM) company, today announced that Inpixon Mapping has been selected as part of a workplace experience solution for a leading medical technology provider, one of the world's largest public companies, to provide intelligent, multi-dimensional digital maps. Inpixon Mapping is currently contracted for deployment throughout the organization's headquarters campus comprised of dozens of buildings covering nearly one million square feet.
Inpixon Mapping will be used to visualize locations throughout the organization's headquarters in a multi-layered digital map and operate in conjunction with additional technologies to support a comprehensive workplace experience application. The solution will offer wayfinding and room-booking capabilities as well as allow management to provide additional workforce productivity features. The application is intended to improve productivity by saving time moving within and between campus buildings with intelligent mobile phone-based Inpixon wayfinding and navigation. The terms of the agreement include both one-time professional services revenue, as well as recurring revenue associated with the mapping platform license.
Nadir Ali, Chief Executive Officer, commented, "We are very pleased to have our Inpixon Mapping platform selected by one of the world's largest medical device companies to provide dynamic digital maps of its sizable headquarters. Our mapping will provide the organization an interactive representation of its large campus that enables indoor and outdoor wayfinding and navigation that leverages business rules, creating real-time indoor intelligence and enhancing the overall employee workplace experience through a user-friendly application.
"Scalable, location-aware applications with indoor maps and related capabilities can be an essential part of a productive workplace experience. Indoor Intelligence provides valuable information for management and can be used in conjunction with our Workplace Readiness solutions to aid in creating a safer environment. We look forward to deploying our indoor mapping technology across this organization's headquarters campus with the goal to expand into additional locations."
Inpixon(R) (Nasdaq: INPX) is the Indoor Intelligence(TM) 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, 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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