Saab enhances AI/ML portfolio with CrowdAI acquisitionNews
September 08, 2023
SAN DIEGO. Saab reports that it acquired artificial intelligence (AI) company CrowdAI (San Francisco, California) in a move intended to expand its holdings in AI and machine learning (ML).
Financial details about the deal -- announced publicly September 7 -- were not disclosed.
Erik Smith, president of Saab in the U.S., said that the deal enables Saab to explore “a new capability as well as deeply rooted relationships with new customers” and that it emphasizes the company's commitment to innovation and growth in the U.S. market.
Devaki Raj, the cofounder of CrowdAI, said in a statement on the acquisition: As part of Saab, “the team we’ve built will open new doors for dual-use technological advancement that aligns with the DoD’s priorities.”
Work under the combined companies will be carried out mostly in San Diego.