In October 2022, Oracle completed the acquisition of certain assets of Smartvid.io, Inc. (d/b/a Newmetrix). The acquisition included specific intellectual property underlying Newmetrix’s AI-enabled construction safety product suite, which Oracle intends to incorporate into its Construction Intelligence Cloud. Newmetrix’s former CEO/Co-founder and key leaders joined Oracle as part of the acquisition.
Oracle is currently reviewing the existing Newmetrix product roadmap and will be providing guidance to customers in accordance with Oracle’s standard product communication policies. Any resulting features and timing of release of such features as determined by Oracle’s review of the Newmetrix product roadmap are at the sole discretion of Oracle. All product roadmap information, whether communicated by Newmetrix or by Oracle, does not represent a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. It is intended for information purposes only, and may not be incorporated into any contract.
This document contains certain forward-looking statements about Oracle and NEWMETRIX, including statements that involve risks and uncertainties concerning Oracle’s proposed acquisition of Newmetrix, anticipated customer benefits and general business outlook. When used in this document, the words “anticipates”, “can”, “will”, “look forward to”, “expected” and similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Oracle or Newmetrix, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this document due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, the possibility that the anticipated synergies of the combined companies may not be achieved after closing, the combined operations may not be successfully integrated in a timely manner, if at all, general economic conditions in regions in which either company does business may deteriorate and/or Oracle or Newmetrix may be adversely affected by other economic, business, and/or competitive factors. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Oracle or Newmetrix. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this document. Neither Oracle nor Newmetrix is under any duty to update any of the information in this document.