Cambridge, MA, Sept. 26, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- IIOT-OXYS, Inc. (OTC Pink: ITOX) announced the execution of a Letter of Intent (LOI) to acquire Infinite Automation Systems, Inc.
Infinite Automation Systems, Inc. is an innovator of IIoT software and global data acquisition systems which provides end-to-end connectivity and normalization of diverse data streams to provide a “single pane of glass” view into equipment and systems over the whole enterprise.
Cliff Emmons, CEO of IIOT-OXYS, Inc., stated, “This LOI allows our two companies to fully examine the obvious synergies in our complementary technology, market segments, and customer bases. The Mango IIoT platform will allow IIOT-OXYS, Inc. to focus on its core value - Machine Learning Algorithms that yield real time insights which enhance our customers' performance, productivity, and costs. It would also give the combined companies access to public capital to drive rapid scaling and shareholder value."
Joel Haggar, CEO of Infinite Automation Systems, Inc., stated, “We are excited to explore this partnership with IIOT-OXYS, Inc., as we feel this represents a significant boost in value to our customers. Bringing Machine Learning and AI technologies into our platform will result in a huge leap forward in our offering but also represents higher quality services, support and faster time to market with new and exciting products.”
The closing of the transaction is subject to a number of conditions precedent, including satisfactory due diligence by us and the execution of definitive agreements, including employment agreements with the principal officers and directors of Infinite Automation Systems.
IIOT-OXYS, Inc. is a technology company at the intersection of IIoT, AI & Machine Learning, Edge Computing and Manufacturing Operations. We provide actionable mission critical insights for the Medical/Pharmaceutical, Manufacturing, Agriculture, Defense, and Structural Health, and other industries. IIOT-OXYS, Inc. edge computing open-source hardware and proprietary ML algorithms employ our Minimally-Invasive Load Monitoring (MILM) technology to simply gather data and gain insights to monitor, scope, move from preventive to predictive maintenance, and even optimize development and manufacturing processes. For additional information visit www.oxyscorp.com
For additional information visit https://infiniteautomation.com/IIOT-OXYS, Inc.