Inpixon (NASDAQ: INPX) is having a great start to the trading session this morning, and for good reason. The company announced the completion of an acquisition, exciting investors and sending the stock running for the top. Today, we’ll talk about:
- The acquisition news;
- what we’re seeing from INPX stock as a result; and
- what we’ll be watching for ahead.
INPX Climbs On Acquisition News
As mentioned above, Inpixon is having a great start to the trading session this morning after the company announced acquisition news. The news came by way of press release in the premarket hours.
In the release, INPX announced that it has completed the acquisition of Locality Systems. Locality Systems specializes in wireless device positioning and radio frequency augmentation of video surveillance systems.
The company is best known for its video management system integration, which is currently avaialble through various leading VMS vendors. The company’s technology assists security personnel in identifying potential suspects and tracking their movements cross-camera and from one facility to another.
In a statement, Nadir Ali, CEO at INPX, had the following to offer:
Inpixon can now offer what we believe is one of the indoor positioning market’s most comprehensive product lines for visitor analytics and physical cyber security. We think Locality’s Wi-Fi-based analytics solution is a great entry point for customers starting out in indoor positioning. We expect the offering to increase the number of new Inpixon customers and to help us capture a significant share of the fast-growing Wi-Fi analytics market1. Those new customers will have the option to upgrade to IPA Pod and IPA Sensor 4000 as they experience the many uses and benefits of Indoor Positioning Analytics.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that it’s important to follow the news. After all, it’s the news that leads to moves in the market. In the case of Inpixon, the news proved to be incredibly positive.
After all, through this acquisition, the company is expanding its offering, creating yet another opportunity to drive revenue growth. So, it’s not surprising to see that excited investors are pushing the stock for the top.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:10), INPX is trading at $0.88 per share after a gain of $0.093 per share or 11.83% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on INPX. In particular, we’re interested in following the story surrounding the company’s continued work to expand value for investors through the acquisition of Locality Systems and its continued work to expand sales. Nonetheless, we’ll follow the story closely and bring the news to you as it breaks!
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