BigBear.ai share are up 10% on Monday, after the company agreed to buy Pangiam Intermediate for about $70 million in an all-stock transaction. The deal is expected to close in the first quarter of 2024.
- William Blair (market perform)
- “This acquisition focuses the company on further monetizing its commercial software in different niche areas” and “enhances BigBear’s existing machine vision capabilities”
- Cowen (market perform, PT $2)
- “The deal is aimed at accelerating growth and developing a comprehensive Vision AI offering”
- Stock on track for a third straight positive session; it has risen more than 30% over the three-day gain
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