Published on 25 Jul 2023 on Market Watch

Inpixon to combine with crossover plane maker XTI Aircraft

Inpixon said Tuesday it agreed to combine with XTI Aircraft Co., developer of the TriFan 600 fixed-wing vertical takeoff and landing plane, in a deal that values the company at $252 million to $343 million based on industry estimates by an independent adviser. XTI said conditional pre-orders of more than 700 aircraft have the potential to produce about $7.1 billion upon delivery. “We believe that the TriFan 600 airplane will revolutionize point-to-point air travel by combining the comfort, speed, and range of similar conventional business aircraft with the flexibility, convenience, and pinpoint transportation of a helicopter,” said XTI Aircraft founder and chairman David Brody. Inpixon shareholders will own 40% of the combined company. Inpixon stock was down 1.2% in premarket trades.