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IntraNav was acquired for 1 m Euros

Picture by geralt via Pixabay

On December 9th NASDAQ listed Silicon Valley company Inpixon announced the acquisition of Eschborn (close to Frankfurt) based indoor navigation startup IntraNav.

Now Inpixion filed their annual report 2021 with the SEC (Link) and we took a look. It turns out that IntraNav was acquired for 1 mn Euros, 1,123 mn US$ at the time.

Inpixion writes:

“Note 10 -IntraNav Acquisition

On December 9, 2021, the Company, through its wholly-owned subsidiary, Inpixon Germany, through its wholly-owned subsidiary, Nanotron Technologies acquired IntraNav GmbH.

IntraNav will bring new, comprehensive products and technologies, and a broad IP portfolio to strengthen the Company’s established RTLS product line.

In exchange for a Purchase Price of $1.1 million, the Purchaser acquired all the outstanding shares of IntraNav.

The goodwill of $0.5 million arising from the Acquisition consists of an acquired workforce, as well as synergies and economies of scale expected from combined operations of Nanotron and IntraNav.”

The price is surprising since according to CrunchBase IntraNav has already raised 5.9 mn Euros to date.

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