Inpixon Appoints Former NXP CEO, Richard Clemmer, as Advisor and Announces Co-Investment With Clemmer in Sports Performance Analytics Company
PALO ALTO, Calif., March 26, 2021 /PRNewswire/ -- Inpixon (Nasdaq: INPX), the Indoor Intelligence™ company, today announced it will acquire a controlling interest of the outstanding capital stock of Game Your Game Inc. ("Game" a.k.a., Game Golf) an app-based sports performance analytics firm using IoT sensors, maps and location technologies. Game is focused on the golf industry with a suite of products that serve golfers and golf facilities, with technology that has the capability to be leveraged in other sports. The company also named Richard "Rick" Clemmer, former CEO of NXP Semiconductors, a leading provider of embedded controllers for industrial internet of things (IIoT), mobile, and communications infrastructure with 2020 revenues of $8.6 billion, to Inpixon's board of advisors. Mr. Clemmer is a co-investor in Game Your Game.
Mr. Clemmer served as CEO and executive director of NXP Semiconductors from 2009 until May 2020 and continues to serve as a strategic advisor to NXP. Prior to NXP, he was a senior advisor of Kohlberg Kravis Roberts & Co., a private equity and global investment firm. He also served in leadership roles at Agere Systems (the Lucent SC company), NCR Corporation, u-Nav Microelectronics, and Quantum Corporation. Mr. Clemmer was named by Data Economy to its inaugural EDGE 50 list of the world's top edge computing influencers.
"We are very fortunate to have the opportunity to work with someone of Rick's stature and expertise and look forward to partnering with him on Game as well as benefiting from his support and advice for Inpixon," said Nadir Ali, CEO of Inpixon. "We anticipate great success in leveraging Rick's experience and relationships to scale Inpixon to the mass market. Additionally, we look forward to expanding Game's market and to exploring the synergies around Inpixon's and Game's technologies for positioning, maps, analytics and mobile apps."
"This is an especially exciting time for Inpixon," noted Mr. Clemmer. "Inpixon's location technologies and Indoor Intelligence platform provide a strong foundation for growth and value creation, as well as the ability of using Game to provide a true sports IoT platform. I am delighted to have the opportunity to work with Nadir, the Board, and the executive team to help support Inpixon's continued market leadership. I'm also eager to maximize the potential of Game Your Golf in which we have a joint interest."
Game Your Game is a sports performance data analytics technology company predominantly focused on the golf industry, and its assets include multiple patents issued and pending. Game's leading product, Game Golf PRO, is one of golf's most powerful & accurate GPS shot tracking systems. The sensors allow fully automated shot detection and include yardages hit by each club.
Game Golf PRO is designed to help players improve their scores and to enable course managers, greenskeepers and architects to lower costs and improve the pace of play. The company states it has an industry leading dataset including 37,000+ mapped golf courses, and 250 million rounds tracked in 125+ countries by 200,000+ users. Game Golf was previously awarded Golf Digest's Editor's Choice of Best Golf Analyzer.
The transaction is subject to the terms and conditions of a Stock Purchase Agreement, including customary closing conditions. For additional details, please reference the Company's current report on Form 8-K to be filed with the U.S. Securities and Exchange Commission.
About Inpixon
Inpixon® (Nasdaq: INPX) is the Indoor Intelligence™ 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, 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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