BigBear.ai Announces Acquisition of Assets of CargoSeer, an AI-Powered Inspection and Trade Risk Management Company

MCLEAN, Va.--(BUSINESS WIRE)--BigBear.ai (NYSE: BBAI), a leading provider of mission-ready artificial intelligence (AI) for national security, today announced that it has acquired certain technologies of CargoSeer, Ltd., a specialized AI software company delivering cargo scanning enhancement and trade risk management capabilities for customs enforcement missions worldwide, for an undisclosed amount.

CargoSeer’s AI Shipment Inspection Platform supports enhanced Non-Intrusive Inspection (NII) for cargo, by combining automated image analysis, computer vision, and machine learning coupled with trade and cargo data. The technology helps customs authority operators rapidly identify high-risk shipments, detect threats, and improve inspection efficiency across ports of entry.

“The acquisition of certain technologies of CargoSeer aligns directly with BigBear.ai’s strategy to deliver trusted technologies to customs agencies ensuring more efficient and secure movement of transported goods,” said Kevin McAleenan, CEO of BigBear.ai. “Combining advanced computer vision with trade and cargo intelligence, we are expanding our ability to support customs agencies as they modernize enforcement operations, strengthen border security, and facilitate global trade.”

“With BigBear.ai, we believe our technology will scale rapidly in support of global customs and border modernization,” said David Smason, co-founder and CEO of CargoSeer. “We look forward to accelerating global adoption of mission-ready AI for Customs.”

About BigBear.ai

BigBear.ai is a leading provider of mission-ready AI solutions and services for defense, national security, and critical infrastructure. Customers and partners rely on BigBear.ai’s artificial intelligence and predictive analytics capabilities in highly complex, distributed, mission-based operating environments. Headquartered in McLean, Virginia, BigBear.ai is a public company traded on the NYSE under the symbol BBAI. For more information, visit https://bigbear.ai and follow BigBear.ai on LinkedIn: @BigBear.ai and X: @BigBearai. To receive email communications from BigBear.ai, register here.

About CargoSeer

CargoSeer is an artificial intelligence (AI) software company and a leader in unified AI decision support technology for customs and border operations. Deployed worldwide, our solutions leverage extensive real-world data and advanced algorithms to help governments and enterprises move high volumes of cargo quickly and securely.

Forward-Looking Statements

This press release contains “forward-looking statements.” Such statements include, but are not limited to, statements regarding the acquisition and its expected impact and other statements that are not historical facts and may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties, including, without limitation, those relating to: changes in domestic and foreign business, market, financial, political, and legal conditions; risks related to the uncertainty of the projected financial information (including on a segment reporting basis); risks related to delays caused by factors outside of our control, including changes in fiscal or contracting policies or decreases in available government funding; changes in government programs or applicable requirements; budgetary constraints, including automatic reductions as a result of “sequestration” or similar measures and constraints imposed by any lapses in appropriations for the federal government or certain of its departments and agencies; influence by, or competition from, third parties with respect to pending, new, or existing contracts with government customers; our ability to successfully compete for and receive task orders and generate revenue under Indefinite Delivery/Indefinite Quantity contracts; potential delays or changes in the government appropriations or procurement processes, including as a result of events such as war, incidents of terrorism, natural disasters, and public health concerns or epidemics; and increased or unexpected costs or unanticipated delays caused by other factors outside of our control, such as performance failures of our subcontractors; risks related to the rollout of the business and the timing of expected business milestones; the effects of competition on our future business; failure to consummate the acquisition, failure to satisfy closing conditions to the acquisition, failure to realize the anticipated benefits from the acquisition, and those factors discussed in the Company’s reports and other documents filed with the SEC, including under the heading “Risk Factors.” More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the SEC, including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as such factors may be updated from time to time, including without limitation, its Quarterly Reports on Form 10-Q and other documents filed with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. There may be additional risks that we presently do not know or that we currently believe are immaterial which could also cause actual results to differ from those contained in the forward-looking statements. We anticipate that subsequent events and developments will cause our assessments to change. In addition, forward-looking statements reflect our expectations, plans or forecasts of future events and views as of the date of this release. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, except as required by law. Accordingly, undue reliance should not be placed upon the forward-looking statements.