BigBear.ai, a leading provider of artificial intelligence, machine learning, cloud-based big data analytics, and cyber engineering solutions, and GigCapital4, Inc. announced on Friday that the two companies have entered into a definitive merger agreement that will result in BigBear.ai becoming a publicly-traded company.
“This is an absolutely mission-critical service for our defense and intelligence customers, who trust BigBear.ai in situations where there is little margin for error,” said Dr. Reggie Brothers, CEO of BigBear.ai, 2021 Wash100 Award recipient and GovCon Expert.
“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,” Brothers continued.
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. Upon closing of the transaction, the new company is expected to have the capital flexibility needed to support organic and inorganic growth.
“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,” Brothers added.
A new leader in decision dominance, BigBear.ai is operationalizing artificial intelligence and machine learning at scale through our end-to-end data analytics platform. We deliver superior information and decision support to customers in the private and public sectors through our modular suite of big data analytics and solutions.