BigBear.ai to Acquire Pangiam for Approximately $70M

BigBear.ai has signed a definitive merger agreement to acquire Pangiam (Pangiam Intermediate Holdings, LLC) in an all-stock transaction valued at roughly $70 million, expected to close in Q1 2024. The deal combines Pangiam's facial recognition and biometric capabilities with BigBear.ai's computer vision and AI analytics to create a comprehensive Vision AI portfolio and expand the combined company's customer base into airlines, airports, identity-verification firms and additional U.S. government contracts.