HomeGlobal Defence UpdatesSweden’s Saab snags Silicon Valley-based CrowdAI

Sweden’s Saab snags Silicon Valley-based CrowdAI


BKJ7GOYDOZF6DGGEXP5IIPWV54

WASHINGTON — Swedish defense company Saab AB acquired artificial intelligence firm CrowdAI, again expanding its footprint in the fast-growing sector.

The deal’s closing was announced Sept. 7. No financial details were shared. Saab ranked No. 33 in the latest Defense News “Top 100″ analysis of the world’s largest defense companies, raking in $3.7 billion in defense revenue in 2022.

Erik Smith, president of Saab in the U.S., in a statement said the takeover provides the company “a new capability as well as deeply rooted relationships with new customers.” It also underscores “our commitment to innovation and growth in the United States,” he added.

The Department of Defense last year selected CrowdAI to help aid AI adoption, under a contract worth up to $249 million. The company was also tapped in 2019 during a “Shark Tank”-style event the Air Force hosted to quickly ink contracts.

As part of Saab, “the team we’ve built will open new doors for dual-use technological advancement that aligns with the DoD’s priorities,” Devaki Raj, the cofounder of CrowdAI, said in a statement. Its future work will mainly be carried out in San Diego, California.

Saab last month acquired BlueBear Systems, a British company that specializes in autonomy, avionics, and modeling and simulation. Terms were not disclosed at the time. BlueBear last year had a turnover of £8 million, or $10 million, Defense News reported.

Colin Demarest is a reporter at C4ISRNET, where he covers military networks, cyber and IT. Colin previously covered the Department of Energy and its National Nuclear Security Administration — namely Cold War cleanup and nuclear weapons development — for a daily newspaper in South Carolina. Colin is also an award-winning photographer.



Source by [author_name]
#Swedens #Saab #snags #Silicon #Valleybased #CrowdAI

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Aatmanirbhar Bharat

All

IAF successfully conducts night vision goggles-aided landing in Eastern sector

The Indian Air Force (IAF) has achieved a significant milestone by successfully landing an aircraft using night vision goggles (NVG) for the first time...

With Project-75I Submarine Acquisition Facing Delays, MDL Shifts Focus to Indigenous 3,000-ton Project-76 Submarine Design

Source : IgMp Bureau Mazagon Dock Shipbuilders Limited (MDL), India's premier shipyard, has announced its intention to develop an entirely indigenous conventional submarine design by...

AMCA 5th Generation Stealth Fighter Updates

AMCA to be integrated with sophisticated indigenous Distributed Aperture System (DAS) that making it a formidable air asset for the Indian Air Force

Source : IgMp Bureau India’s Advanced Medium Combat Aircraft (AMCA) is on the brink of a revolutionary transformation with the integration of a sophisticated Distributed...

AMCA to incorporate the best features of both 5th and 6th Generation fighters: ADA sources

Source : IgMp Bureau India's strides toward indigenous air dominance receive a substantial boost with the green signal for the Advanced Medium Combat Aircraft (AMCA)...

Most Popular

Recent Comments

Archive Months

Miscellanous

Be ready to tackle new & emerging threats: PM Modi to military commanders

Source : The Indian Express Be ready to tackle new & emerging threats: PM Modi to military commanders Asking the three Services to be ready to...

India to host ASEAN Foreign Ministers on June 16-17 to Mark 30th Anniversary of Ties with 10-nation Union

Source : Press Trust of India (PTI)New Delhi, Oct 28, 2021: Prime Minister Narendra Modi addresses during the 18th India-ASEAN Summit, via video conferencing,...
Visits
error: Content is protected !!