BigBear.ai And Palantir Announce Strategic Partnership, Combining AI-powered Products With Next Generation Operating Platform

Rhea-AI Summary

BigBear.ai and Palantir Technologies Inc. (NYSE: PLTR) announced a commercial partnership to integrate their products, enhancing data and AI capabilities for complex business decisions. This partnership aims to combine Palantir's Foundry platform with BigBear.ai’s advanced analytics, providing actionable insights across various sectors such as federal government and commercial markets. The collaboration is expected to accelerate BigBear.ai’s market penetration and expand both companies' customer bases, leveraging their respective technologies for improved operational efficiencies.

Positive

• Partnership expected to enhance capabilities for complex business decisions through integrated products.
• Potential to accelerate BigBear.ai’s growth in high-demand sectors, including federal government and commercial markets.
• Integration of AI and machine learning solutions can streamline operations and improve customer targeting.

Negative

• None.

COLUMBIA, Md. & DENVER--(BUSINESS WIRE)-- BigBear.ai, a leading provider of artificial intelligence, machine learning, big data analytics, and cyber solutions, and Palantir Technologies Inc. (NYSE: PLTR), a software company that builds enterprise data platforms for use by organizations with complex and sensitive data environments, today announced that they have entered into a commercial partnership under which BigBear.ai’s and Palantir’s products will be integrated to extend the operating system for the modern enterprise with data and AI that provide advice and other actionable insights for complex business decisions.

As part of the integrated product offering, Palantir’s Foundry platform will be integrated with BigBear.ai’s Observe, Orient and Dominate products, creating powerful machine learning extensions for the Palantir ecosystem that will provide global data collection, generate actionable insights and deliver anticipatory intelligence at enterprise scale to address high-growth federal and commercial verticals including space, retail, logistics and energy.

BigBear.ai will have an opportunity to extend Palantir’s products with its forecasting, course of action optimization, conflation, computer vision, natural language processing, and other predictive analytics via low-code interfaces. Building upon the agility and scalability of Palantir’s Foundry data and analytics fabric, BigBear.ai’s products will enable businesses to achieve return on investment faster with out-of-the-box optimization solutions for pricing, inventory and asset allocation, facility and operations management, and customer targeting – all built to be sensitive to today’s connected economy through the inclusion of BigBear.ai’s global data for situational awareness and competitive intelligence.

The parties also will explore taking joint products to market, which the companies anticipate would rapidly increase Palantir’s addressable opportunities and accelerate BigBear.ai’s roadmap and sales channel. For example, exploring how BigBear.ai’s commercial space solutions could be deployed together with Palantir products in the federal government space. BigBear.ai’s near real-time observations of places, events, and other entities could be easily disseminated to Palantir customers and tied into business process automations and analytics.

Brian Frutchey, BigBear.ai Chief Technology Officer, said, “We are thrilled to partner with Palantir to deliver a more robust range of capabilities to our respective customer bases at a time in which demand for AI and ML solutions is growing rapidly. We are confident that this partnership will accelerate BigBear.ai’s penetration into high growth markets, including commercial markets and the Federal government, and help us expand our existing customer relationships as well as attract new customers at this critical stage of expansion for BigBear.ai.”

Akash Jain, President of Palantir USG, said, “We see immense opportunities to deliver more, faster for customers by partnering with cutting edge companies who can leverage Foundry as Infrastructure in their offerings. BigBear’s unique AI capabilities can achieve scalable distribution across government and commercial customers alike through Apollo and Foundry.”

About BigBear.ai

A leader in decision dominance for more than 20 years, BigBear.ai operationalizes artificial intelligence and machine learning at scale through its end-to-end data analytics platform. The Company uses its proprietary AI/ML technology to support its customers’ decision-making processes and deliver practical solutions that work in complex, realistic and imperfect data environments. BigBear.ai’s composable AI-powered platform solutions work together as often as they stand alone: Observe (data ingestion and conflation), Orient (composable machine learning at scale), and Dominate (visual anticipatory intelligence and optimization).

BigBear.ai’s customers, which include the U.S. Intelligence Community, Department of Defense, the U.S. Federal Government, as well as customers in the commercial sector, rely on BigBear.ai’s high value software products and technology to analyze information, identify and manage risk, and support mission critical decision making. Headquartered in Columbia, Maryland, BigBear.ai has additional locations in Virginia, Massachusetts, Michigan, and California. For more information, please visit: http://bigbear.ai/ and follow BigBear.ai on Twitter: @BigBearai.

About Palantir Technologies Inc.

Palantir Technologies Inc. builds and deploys operating systems for the modern enterprise. Additional information is available at www.palantir.com.

Who dares, wins.

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 strategy, terms, and the expected benefits of the commercial partnership, product development or integration efforts, and customer opportunities. 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 each party’s 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 the parties’ control. These risks and uncertainties include the parties’ ability to meet the unique needs of their respective or joint customers; the parties’ ability to successfully market or sell their products and services to new or existing customers; the failure of the parties’ products, individually or as integrated, to satisfy their customers or perform as desired; the frequency or severity of any software and implementation errors; the reliability of the parties’ products, including any integrated product offerings; the ability to modify or terminate the parties’ commercial partnership; and customers’ ability to modify or terminate their contracts. Additional information regarding these and other risks and uncertainties with respect to Palantir is included in the filings Palantir makes with the Securities and Exchange Commission from time to time. Except as required by law, the parties 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211115005507/en/

For BigBear.ai

Reevemark

Paul Caminiti/Delia Cannan/Pam Greene

212-433-4600

bigbear.ai@reevemark.com

or

Lambert & Co.

Jennifer Hurson

(845) 507-0571

jhurson@lambert.com

Caroline Luz

203-656-2829

cluz@lambert.com

For Palantir

Lisa Gordon

media@palantir.com

Source: Palantir Technologies Inc.

FAQ

What is the new partnership between Palantir and BigBear.ai about?

Palantir and BigBear.ai's partnership aims to integrate their products, enhancing AI and data analytics capabilities for complex business decisions.

How will the partnership impact Palantir Technologies (PLTR)?

The partnership could expand Palantir's addressable market opportunities and improve its product offerings by integrating with BigBear.ai’s solutions.

What markets are targeted by the Palantir and BigBear.ai partnership?

The partnership targets high-growth federal and commercial markets, including space, retail, logistics, and energy.

What technologies will be integrated in the Palantir and BigBear.ai collaboration?

The collaboration will integrate Palantir's Foundry platform with BigBear.ai's Observe, Orient, and Dominate products to enhance machine learning capabilities.