BigBear.ai Acquires ProModel Corporation, Leading Provider of Simulation-Based Analytics Software

The addition of the ProModel portfolio significantly advances BigBear.ai’s business growth strategy with a focus on operational AI to improve design, manufacturing and process optimization

COLUMBIA, Maryland, April 11, 2022–(BUSINESS WIRE)–BigBear.ai (NYSE: BBAI), the leader in AI-based analytics and cyberengineering solutions, today announced the acquisition of ProModel Corporation, a provider of predictive analytics software simulation-based for manufacturing, healthcare, shipbuilding and other industries. The accretive acquisition bolsters BigBear.ai’s business growth strategy with the addition of industry-leading modeling applications used by hundreds of global customers, including many Fortune 500 companies.

BigBear.ai makes artificial intelligence (AI) accessible and trusted for operational decision-making, providing expert, actionable advice to federal and commercial clients facing highly complex environments. In December 2020, BigBear.ai acquired ProModel Government Services, expanding the company’s modeling and simulation capabilities for federal customers. With the acquisition of ProModel Corporation, BigBear.ai can now leverage these capabilities in the commercial sector to optimize decision-making with better insights into supply chains, market conditions, equipment maintenance, capacity planning and process efficiency.

“ProModel’s solutions unlock new perspectives for improving quality and efficiency in manufacturing, distribution and many other industries, making it an excellent fit for our business strategy,” said BigBear.ai CEO , Dr. Reggie Brothers. “ProModel’s focus on helping organizations make better decisions faster, coupled with its unparalleled corporate culture, aligns perfectly with our vision and mission. Our decision support technology based on AI will bring tremendous benefits to ProModel customers. We are delighted to welcome them and all ProModel employees and partners to the BigBear.ai community.”

“We have had an incredibly strong relationship with BigBear.ai since its acquisition of ProModel’s government services business two years ago,” said Keith Vadas, President and CEO of ProModel Corporation. “The synergies between our technology and our focus on the vertical market made joining forces the right move and gives us additional resources to deliver scalable and reliable AI technology and expertise to significantly increase value for our customers.

ProModel solutions are distributed worldwide by Datech Solutions, the Autodesk®-focused company of Technical data, a TD SYNNEX company. ProModel also has a direct co-marketing agreement with Autodesk for ProModel AutoCAD® editing and other ProModel solutions that work seamlessly with the Autodesk® product design and manufacturing collection which includes AutoCAD®, Inventor® and Factory Design Utilities® and can be extended across the Forge® shape. According to HG Insights. AutoCAD alone is used by more than 500,000 companies worldwide. The acquisition of ProModel Corporation allows BigBear.ai to leverage these strategic channels to accelerate the adoption of ProModel and BigBear.ai solutions globally.

“Adding ProModel’s talented workforce and innovative product suite to BigBear.ai will allow us to unlock new insights essential for predictive maintenance and process optimization, helping customers achieve efficiencies and responsiveness that weren’t possible before,” said Jeff Dyer, Chief Commercial Officer of BigBear. .have. “ProModel’s powerful, easy-to-use software and established relationships with market leaders like Autodesk and Datech Solutions provide us with a solid foundation to quickly build on their success and accelerate market penetration across the globe.”

Unique data enrichment and machine learning capabilities give BigBear.ai a competitive edge in reach, speed, scalability and accuracy for its predictive decision support technology. As a result, BigBear.ai solutions are widely used in the federal sector, with long-time customers in the US Department of Defense and the intelligence community, among others. In 2021, BigBear.ai expanded its offerings and go-to-market strategy to address the private sector, beginning with logistics, manufacturing, and the commercial space industry. The acquisition of ProModel significantly expands BigBear.ai’s business and geographic footprint, adding hundreds of customers in more than 30 countries around the world.

For more information about ProModel Corporation and ProModel solutions, visit www.promodel.com.

About BigBear.ai
BigBear.ai provides AI-based analytics and cyber-engineering solutions to support critical operations and decision-making in complex, real-world environments. BigBear.ai’s customers, including the U.S. Intelligence Community, Department of Defense, U.S. Federal Government, as well as customers in manufacturing, logistics, commercial space industry, and other sectors, rely on BigBear.ai’s solutions to see and shape their world. through reliable, predictive insights and goal-oriented advice. Based in Columbia, Maryland, BigBear.ai has additional locations in Virginia, Massachusetts, Michigan, and California. For more information visit: https://bigbear.ai and follow us on Twitter: @BigBearai.

About ProModel Corporation
ProModel Corporation, based in Allentown, PA, was founded in 1988. ProModel specializes in commercial off-the-shelf software to help organizations optimize portfolios, projects, processes, and resource decisions that fit best to business strategy. For more information, visit www.promodel.com.

Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding: the planned acquisition of ProModel Corporation and its timing; the impact of the acquisition on the business performance of BigBear.ai; the impact of the transaction on the capabilities, customers and partners of BigBear.ai and ProModel’s products and services; and BigBear.ai’s strategic priorities.

Factors that could cause actual results to differ materially include: BigBear.ai’s ability to successfully integrate ProModel’s business; acquisition-related costs; the impact of COVID and the unstable geopolitical climate; changes in ProModel’s customer base, partner network or geographic footprint; the competitive environment in the manufacturing and distribution industries and competitive responses to the acquisition; The success of BigBear.ai and ProModel in developing new products or modifying existing products and the extent to which these are accepted by the market; general market and business conditions; the unanticipated impact of accounting for acquisitions; and the ability to satisfy the conditions to complete the acquisition on time, if at all.

Further information about potential factors that could affect BigBear.ai’s financial results is included in BigBear.ai’s Form 10-K, which is filed with the United States Securities and Exchange Commission. BigBear.ai disclaims any obligation to update any forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220411005125/en/

contacts

Tyler Sigmon
BigBear.ai
443-430-2622
Tyler.Sigmon@bigbear.ai

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Thomas Walter
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