As part of the strategy, IPIX has moved its corporate headquarters and has spun off one of its business units. IPIX reported on January 11 that it had sold its AdMission business unit to the newly formed AdMission Inc.
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AdMission manufactures a media platform that helps businesses create more visual advertisements. In turn, IPIX says it will streamline operations to focus on its security and digital photography solutions.
“We are committed to leveraging our core visual intelligence technologies to meet the large and growing demand for cutting-edge surveillance and security applications,” said Clara Conti, IPIX president and CEO, in a statement. “With this sale, we can now devote all of our resources to the increasing adoption of IPIX patented surveillance technologies.”
IPIX is also moving of its corporate headquarters from <?xml:namespace prefix = st1 ns = “urn:schemas-microsoft-com:office:smarttags” />San Ramon, California to the WashingtonD.C. suburb of Vienna. IPIX will still retain its operations in Oak Ridge, in Tennessee, which serve as a hub for IPIX Security.
IPIX’s CFO Paul Farmer has informed the company that he will not make the move to Virginia but will remain until a successor is named.
