BigBear.ai (NYSE: BBAI) completed its purchase of fellow artificial intelligence company Pangiam Intermediate Holdings for an estimated $70 million in stock.
Pangiam CEO Kevin McAleenan and two-time Wash100 inductee will become president of the combined company, which will leverage BigBear.ai’s capabilities in predictive analytics and computer vision with Pangiam’s biometric security portfolio, BigBear said Friday.
The acquisition gives BigBear rights to Pangiam’s facial recognition and image-based anomaly detection products and services, strengthening its presence in the markets for national security, digital identity and supply chain management.
“The decision to acquire Pangiam is rooted in a strategy to bolster our portfolio through both organic and inorganic tactics, accelerate our growth in adjacent market categories and customers, and deliver increased value to our stockholders,” BigBear CEO Mandy Long remarked.
The move was initially made public in November 2023.
Pangiam markets vision AI, analytics and related capabilities to help government agencies, airports and airlines verify identity, ensure security of facilities and streamline operations.
AI will be in the spotlight on March 21 when the Potomac Officers Club opens the 5th Annual Artificial Intelligence Summit. Participate in the event by registering here.
