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Inpixon to survey a deal with Locality Systems
Posted on Thursday, 11 April 2019 11:26
Inpixon has signed a non-binding term sheet to potentially buy Canadian technology company Locality Systems.
No financial details have been disclosed and the acquiror has cautioned there is no guarantee of a deal taking place.
A possible transaction also remains subject to due diligence and the usual raft of closing conditions.
Headquartered in Vancouver, Locality Systems is billed as an expert in wireless device positioning and radio frequency augmentation of video surveillance systems.
Its Wi-Fi positioning technology provides visitor analytics, and through the company’s video management devices, security personnel are able to detect, track and identify potential suspects.
The target operates in markets such as large and speciality retail, shopping malls and casinos.
Nadir Ali, chief executive of Inpixon, said: “Locality’s visitor information solution fits nicely into our indoor positioning analytics (IPA) intelligence line-up as a Wi-Fi-only offering that complements our IPA sensors.
“Its enhanced video surveillance solution combines strategically with our sensor fusion and video integration product enhancement initiatives to deliver a powerful security dome product.”
Based in California, Inpixon focuses on providing IPA for security personnel in airports, shopping malls, office buildings and government agencies.
Its technology can track visitors through Wi-Fi and Bluetooth enabled devices, and detect potential risks from mobile phones.
Inpixon has offices across North and South America, Europe and the Middle East, and for the financial year ended 31st December 2018 the group posted revenue of USD 3.76 million, down from USD 3.94 million in the preceding 12 months.
A potential deal with Locality Systems would be a welcome addition to the company’s portfolio, having spun off data analytics business Sysorex in September last year.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 933 deals targeting software publishers announced worldwide since the beginning of 2019.
In the largest of these, a group of investors including Hellman & Friedman and JMI Management, via acquisition vehicle Unite Parent, agreed to snap up US-based Ultimate Software Group for USD 11.00 billion.
Other targets in this sector include Luxoft Holding, Infor and PIEtech.
© Zephus Ltd