Inpixon Acquired SaaS Platform The CXApp For Undisclosed Sum

Indoor Intelligence company, Inpixon (NASDAQ: INPX), has announced the acquisition of the SaaS app platform Design Reactor, Inc (or The CXApp). The financial terms of the transaction were not disclosed.
The CXApp helps the corporate enterprise organizations to offer custom-branded, location-aware employee app focused on the workplace, enhancing the experience, and hosting virtual and hybrid events.
The CXApp founder, Leon Papkoff, has joined Inpixon as EVP leading Inpixon's CXApp Division.
The arrangement will help the companies to capture a significant share of the global digital workplace market and the global event management software market, which are expected to grow at a 21.3% and 10% CAGR to $72.2 billion and $6.4 billion by 2026.
Inpixon held $18 million in cash and equivalents as of Dec. 31, 2020.
Price action: INPX shares traded lower by 1.28% at $1.14 on the last check Monday.