Home Business News BigBear.ai to become publicly traded company via merger

BigBear.ai to become publicly traded company via merger

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Columbia-based BigBear.ai, a provider of artificial intelligence, machine learning, cloud-based big data analytics, and cyber engineering solutions; and GigCapital4, a private-to-public equity (PPE)TM entity also known as special purpose acquisition company, have entered into a definitive merger agreement that will result in BigBear.ai becoming a publicly traded company.

BigBear.ai, fueled by machine-driven analytics, enables decision-making dominance in real-time. The company’s solutions enable customers in the defense, intelligence, and commercial sectors to ingest real-time data, generate actionable insights and make informed decisions in complex situations.

The company’s suite of products and capabilities is comprised of three agile modules that can be used on their own or grafted onto a customer’s existing technology: Observe (data ingestion and conflation), Orient (composable machine learning at scale), and Dominate (visual anticipatory intelligence and optimization).

The transaction is expected to be completed in the third quarter of 2021, at which time the combined company will be named BigBear.ai Inc., and is expected to be listed on the NASDAQ. The transaction values the company, which had $140 million in revenues in 2020, at an enterprise value of approximately $1.57 billion.

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“We also see a ripe opportunity in the growing commercial market, as companies dedicate their budget to technology that allows them to harness the power of AI and ML for predictive analytics and forecasting capabilities to manage risk and capitalize on opportunities,” said BigBear.ai CEO Reggie Brothers. “In GigCapital4, we found a like-minded strategic partner that shares our vision for the future of data-driven decision dominance, and this business combination will help us drive growth as a public company. We have momentum and multiple paths for growth, and we are excited to be embarking on this next chapter.”

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