Indoor Positioning Company Announces Acquisition
Wednesday, April 10, 2019 | Comments

Inpixon, an indoor positioning and data analytics company, signed a nonbinding term sheet to acquire Locality Systems, a Vancouver technology company specializing in wireless device positioning and RF augmentation of video surveillance systems.

The acquisition is expected to be accretive and is anticipated to have a purchase price consisting of a combination of cash and equity. The terms of the transaction are still subject to discussion and may be changed as a result of any material positive or adverse change to the business of either party.

Locality Systems' Wi-Fi positioning system technologies deliver advanced visitor analytics, and the company's video management system (VMS) integration technologies enhance traditional security video feeds by overlaying wireless device detection and tracking. The VMS integration, available for a number of leading VMS vendors, enables security personnel to identify potential suspects and to track their movements cross-camera and even from one facility to another.

“I believe Inpixon will be a great home for our location intelligence technology,” said Kirk Moir, Locality Systems CEO. “I believe we will be one of very few companies, in a global $36 billion video surveillance market, to offer Wi-Fi, Bluetooth and cellular detection integrated with deployed video security platforms. I anticipate our current and prospective location intelligence partners will be able to use these new capabilities to differentiate their offerings and to solve some tough problems that can only be addressed by going beyond standalone and Wi-Fi-only detection.”

The company has not entered into a definitive agreement for the proposed transaction. The proposed transaction is subject to the satisfaction of due diligence, negotiating the terms of, and executing, a definitive agreement relating to the proposed transaction and obtaining and satisfying all other necessary closing conditions.

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