Inpixon, a provider of real-time location systems, today announced it has entered into a definitive merger agreement with XTI Aircraft Company, an aviation company developing the TriFan 600, a fixed-wing, vertical takeoff and landing (VTOL) aircraft.
The enterprise value of XTI was ascertained by an independent financial advisory firm to be within the range of $252 million and $343 million. XTI's valuation was determined after comparison with certain public companies with similar business models to XTI in the air travel/VTOL segment of the aviation industry, with an average enterprise value of approximately $1.6 billion.
If completed, the merger will result in a combined publicly traded company that will focus on advancing the TriFan 600 to market, as well as continuing to offer Inpixon's real-time location systems technology to manufacturing and warehousing facilities for streamlined operations, greater efficiency, and improved safety. The companies will launch a merger information portal at xti-inpx-merger.com where interested parties can keep abreast of transaction news.