Palantir Technologies Signs Partnership With Titan Defence Firm, Babcock

DENVER--(BUSINESS WIRE)--Palantir Technologies Inc. (NYSE: PLTR) is enabling the Babcock International Group to strengthen its digital defence capabilities through an Enterprise Agreement (EA) announced at DSEI today in London.

The partnership will leverage Palantir AIP, the AI-enabled instance of the company’s software, that will aim to transform how the Babcock workforce captures, integrates, models and builds data-driven solutions. Unlocking the power of data in this way will enable Babcock to make better informed, data-driven decisions, maximise platform availability on customer assets, and understand how to derive even more value from the organisation’s data.

Guy Williams, Head of UK Defence & National Security from Palantir Technologies said:

“We’re excited to partner with Babcock as they realise their digital defence ambitions. Together, we are driving toward a new era for the UK’s Defence enterprise - one that is pioneering, modern and leverages Palantir AIP.

“Our partnership with Babcock will help ensure the MOD maximise operational output at pace, whilst empowering Babcock’s talented workforce to become truly digitally enabled.“

The agreement will consolidate data streams into one place, whether that’s on supply chains or asset management, with toolsets and analytics. It will support all areas of Babcock’s global defence business across submarines, warships, and army equipment, right through to supply chains and give clearer view of their sustainability impact and carbon footprint.

The platforms will also allow Babcock to co-ordinate more closely with their customers, and improve how they better understand and utilise data, enabling them to be present in key parts of their customers’ critical defence missions.

Welcoming the announcement at DSEI, Babcock CEO for Land, Tom Newman, said:

“As the defence landscape becomes increasingly digital in nature, our data challenges are also growing in complexity and volume.

“Given the complex defence supply chains we operate in, having a true data picture of that ecosystem is vital in allowing us to make better strategic decisions and aligns us to our customer’s digital defence backbone.”

Across multi-domain operating environments, and within the often intricate defence supply chain, the partnership will deliver a data picture that will act as a single source of truth across the ecosystem, helping employees make better strategic decisions and align teams to the MOD’s digital defence backbone. Employees will also be able to leverage cutting edge AI and Large Language Models that can present a range of actions to evaluate and execute accordingly.

For example, within the Defence Support Group (DSG), Palantir is helping Babcock deliver a smart data approach with deep engineering expertise to improve fleet availability and real time identification of issues throughout the lifecycle of military equipment including ships and armoured vehicles.

Using the right technology and harnessing it for greatest impact will support Babcock as they provide optimal performance and mitigate risks for the British Army, realising value for defence across Equipment Support.

Additional areas the partnership will focus on include:

• Equipment support and Maintenance: Data insights on how to increase availability across a range of platforms including ships and armoured vehicles, and readiness, as well as spares provision and requisition.
• Training contracts: Insights into training performance, training needs to support strategic decisions and customer requirements.
• Shipbuilding: cost-savings and efficiencies by bringing together disparate data streams teams are working on at any point in an asset lifecycle. In the Type 31 programme, for instance, Palantir’s software will enable Babcock to consolidate their data, providing a much clearer view of the ship’s digital progress, and providing a clean, collaborative and complete data analysis of the work being done by multiple teams.

This is the first partnership Palantir has signed with a firm in the UK’s Defence Industrial Base; Palantir has worked with the UK MOD for over a decade and continues to support Western liberal democracy, including through collaboration with other Western militaries, allies and defence providers.

The news follows Palantir’s announcement in June 2023 to select London as its European AI R&D Hub.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir's expectations regarding the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; and the reliability of our platforms or related third-party services and platforms. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

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