By Will Feuer
BigBear.AI has agreed to buy Pangiam, a vision artificial intelligence company, for about $70 million in an all-stock deal.
BigBear.AI Chief Executive Mandy Long said the deal will create one of the first full-vision AI portfolios.
The deal, expected to close in the first quarter of 2024, will expand BigBear.AI’s customer base and service offerings to airlines, airports and identity-verification companies. It will also increase the company’s contract portfolio with customers at the Department of Homeland Security and U.S. Customs and Border Protection.
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