BigBear.ai to Expand Vision AI Offerings With Pangiam Acquisition
BigBear.ai has agreed to acquire Pangiam Intermediate Holdings in an all-stock transaction valued at about $70 million to secure a leadership position in the vision artificial intelligence technology segment.
“Vision AI has long been considered the holy grail of applied AI because of its potential to perceive and interact with the world in a human way,” said BigBear.ai CEO and Potomac Officers Club member Mandy Long.
The acquisition is expected to close in the first quarter of 2024. Once the deal is completed, Pangiam’s facial recognition and advanced biometrics will be combined with existing computer vision capabilities to offer comprehensive vision AI portfolios, BigBear.ai said.
BigBear.ai is currently providing predictive analytics capabilities to over 20 U.S. government defense and intelligence customers and 160 commercial enterprises. Merging with Pangiam will enable BigBear.ai to also serve customers at the Department of Homeland Security and Customs and Border Protection.
In 2022, the Transportation Security Administration selected Pangiam to demonstrate an AI-enabled screening solution. The company is also delivering face biometrics in support of an aviation security partnership between Delta Airlines and the TSA.
Category: Member News
Tags: acquisition BigBear.ai Mandy Long Member News Pangiam Intermediate Holdings vision AI