BigBear.ai has announced plans to purchase Pangiam Intermediate Holdings for approximately $70 million as part of an all-stock transaction.
The Pangiam acquisition is expected to close in the first quarter of 2024, BigBear said.
This is technology M&A deal number 304 that MSSP Alert and sister site ChannelE2E have covered so far in 2023.
BigBear, founded in 2020, is based in Columbia, Maryland. The company has 478 associated members listed on LinkedIn. BigBear's areas of expertise include decision intelligence solutions for cybersecurity, supply chains and logistics, enterprise operations and manned-unmanned teaming in autonomous systems.
Pangiam, founded in 2011, is based in Tysons Corner, Virginia. The company has 68 associated members listed on LinkedIn. Pangiam specializes in Vision AI for the digital identity, travel and trade sectors.
What Is Vision AI?
Vision AI refers to artificial intelligence used to teach computers to replicate human vision and situational awareness, according to enterprise AI company Plainsight. This type of AI utilizes machine learning principles and techniques for the development of applications.
Organizations can create Vision AI apps by labeling images, video and other visual data with context for machines, Plainsight indicated. The apps use models to learn from the data and context. Over time, organizations can add and update their labels to improve the accuracy of these models.
BigBear Enhances Its Vision AI Portfolio
Together, BigBear and Pangiam will "create one of the industry's most comprehensive Vision AI portfolios," the companies stated.
BigBear will combine Pangiam's facial recognition and biometrics technologies with its computer vision capabilities, the business said. This will help the company improve its predictive analytics capabilities for cybersecurity and other applications.
How BigBear Helps Organizations Identify and Mitigate Vulnerabilities
Organizations can use BigBear's modeling and simulation technologies to generate real-time insights into cyber risks, the company said. That way, organizations can quickly get the insights that they need to make informed security decisions.
Furthermore, BigBear automates reverse engineering of vulnerabilities and those assessments, the company noted. This helps organizations address a wide range of security issues.
BigBear's Cybersecurity Platform Helps Secure Communications in Space
Laser communications equipment company Mynaric in December 2022 started using BigBear's Space Cyber Resiliency through Evaluation and Security Testing (SpaceCREST) platform and Redwire digital engineering capabilities to develop satellite communication programs. With SpaceCREST and Redwire's capabilities, Mynaric can analyze the security of space assets, the businesses said.
BigBear's cybersecurity solutions are available to organizations in government and defense, manufacturing and other sectors. In addition, BigBear manages a partner ecosystem.
