WASHINGTON, Dec. 3, 2020 /PRNewswire/ — NuWave Solutions (“NuWave”), a leading provider of data management, advanced analytics, artificial intelligence, cloud solutions and technologies to the federal government, announced today that it has acquired BigBear Inc. (“BigBear” or “the Company”), a leading provider of cloud-based big data analytics solutions to the national security community within the U.S. Government. Terms of the transaction were not disclosed.
This is the first acquisition completed by NuWave since being acquired by AE Industrial Partners, LP (“AEI”) in June 2020. AEI is a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets.
Founded in 2008, BigBear specializes in big data computing and analytics, cloud computing, artificial intelligence, machine learning, geospatial information systems, data mining and systems engineering to customers in the U.S. defense and intelligence communities. The Company combines comprehensive technology solutions with its BigBear Platform to create entirely private, secure, and unique cloud environments that helps organizations enable big data computing, machine learning and improved decision-making while better managing risk. BigBear specializes in helping customers make sense of their data by delivering the most advanced customized data analytics solutions available today. BigBear is headquartered in San Diego, California, with additional offices in Reston, Virginia and Charlottesville, Virginia.
“BigBear’s data and analytics solutions bolster our existing capabilities to address the entire spectrum of information superiority,” said Dr. Reggie Brothers, CEO of NuWave. “Making better decisions from data while mitigating risk is a top priority for our government customers, and we look forward to working with the BigBear team as we supplement our capabilities to meet growing demand.”
“NuWave is building a unique business and we are excited to be a part of a larger company that shares the same culture of innovation and mission focus,” said Frank Porcelli, who will remain with the Company. “We are enthusiastic for the opportunities we can pursue together moving forward.”
Brian Levy, President and CTO of BigBear, who will also remain with the Company added, “This partnership enables us to diversify our capabilities across a broad collection of mission partners and commercial markets, allowing us to offer our customers differentiated, end-to-end solutions.”
“When AEI invested in NuWave earlier this year, we stated our commitment to build a world-class advanced analytics and artificial intelligence platform, and the addition of BigBear is a great first step in that journey,” said Jeffrey Hart, Principal at AEI. “We remain focused on adding more companies with specialized technology that complement NuWave’s existing capabilities and expand its roster of premier government customers.”
“Predictive technologies and data analytics are critical in helping government organizations reduce risk and identify opportunities,” said Kirk Konert, Partner at AEI. “We believe NuWave is well positioned to take advantage of these growing demands.”
Akerman LLP served as legal advisor and Ernst & Young LLP served as financial advisor to NuWave. King & Spalding LLP and Foundry General Counsel, PLLC served as legal advisors and Baird served as financial advisor to BigBear.
BigBear, Inc. is a leading provider of cloud-based, big data and analytics solutions for government customers, helping them make sense of big data. The Company specializes in big data computing and analytics, cloud computing, artificial intelligence, machine learning, geospatial information systems, data mining and systems engineering. To learn more about BigBear, visit: http://bigbear.io/.