Forward Slope, a technology services company backed by Dallas-based private equity firm Trive Capital, has acquired Soar Technology in a transaction that allows it to expand its client base and core competencies in the defense and national security markets.
SoarTech helps the Department of Defense meet mission requirements by developing artificial intelligence and machine learning technologies, including autonomous systems that analyze large data volumes and speed up the decision-making process, Trive said Thursday.
Forward Slope has a team of software engineers, data architecture professionals and other technologists to deliver software and surveillance platforms to customers in the defense industry.
Carlos Persichetti, CEO of Forward Slope, said SoarTech’s expertise in ML and AI technologies will enable the combined company to provide integrated products that could back critical DOD programs.
“As we continue to invest into the Forward Slope platform, we are thrilled to partner with SoarTech to add artificial intelligence capabilities that support and enable tactical decision making in an increasingly complex defense environment,” said David Stinnett, a partner at Trive Capital.
KippsDeSanto & Co. and Pillsbury Winthrop Shaw Pittman respectively served as financial adviser and legal counsel to SoarTech in the transaction. Haynes & Boone advised Trive Capital and Forward Slope on the deal’s legal aspect.
The transaction came days after Trive purchased AI software provider Hypergiant Industries as part of efforts to complement Forward Slope.