Acquisition of Cutting-Edge Parts and
Logistics Intelligence Platform Brings XSB's 100M+ Parts and 400M+
Parts Attributes Database In-House to Exiger
WASHINGTON, Aug. 7, 2024
/PRNewswire/ -- Exiger, the market-leading supply chain and
third-party risk AI company, announced the acquisition of logistics
intelligence platform XSB. The acquisition combines the most
comprehensive proprietary purchasing, design and sustainment
intelligence and engineering analytics platform with Exiger's
own proprietary data and AI, creating an end-to-end solution for
the logistics, PEO and acquisition communities.
"XSB's AI and proprietary knowledge base of
parts, materials and processes will flourish in Exiger's software
ecosystem"
Founded by data scientists, XSB uses an ensemble of AI-based
applications to transform unstructured data into actionable
intelligence. XSB's graph database is widely used across government
agencies, platforms and combatant commands, as well as the Defense
Industrial Base. The company's catalog spans 100 million parts and
400 million parts attributes used by the U.S. Federal Government,
from camouflage clothing to weapons systems.
"This acquisition is in response to a growing number of
customers who are eager to bring the power of AI to pain points
like depot maintenance, category management, parts obsolescence,
parts alternatives, price defensibility, and supply chain
optimization, and want to be able to access these capabilities
within Exiger's centralized platform," said Exiger President
Carrie Wibben. "XSB's dataset and
cutting-edge AI capabilities will help our government customers
increase speed, efficiency and execution, while reducing
counterfeit loss, manufacturing costs, research time and the impact
of out-of-date parts."
XSB's product suite is used by thousands of engineers, item
managers and catalogers to prevent supply chain interruptions and
mitigate risks from diminishing supply sources, obsolescence and
nonconforming parts. The platform offers rich technical data for
National Stock Numbers and component parts, reducing design,
manufacturing and selection costs while improving quality and
reliability throughout the product life cycle. In addition to
identifying supply chain partners and surfacing pricing and
availability intelligence, XSB helps customers ensure compliance
with regulatory standards such as Environmental, REACH and
RoHS.
"We're bringing an essential, proprietary trove of data in-house
and combining that with Exiger's multi-tier orchestration
capabilities to deliver a single, seamlessly integrated
sophisticated solution to accelerate the design, build and
procurement process across all systems and processes," said
President of Exiger Government Solutions Cam Holt. "In doing so, we've eliminated the
need for standalone logistics systems while super powering those
capabilities within a larger, full spectrum risk management
platform."
"XSB's highly trained AI solutions and proprietary knowledge
base of parts, materials and processes will flourish within
Exiger's larger software ecosystem and vast customer base," said
XSB Founder and CEO Rupert Hopkins.
"We've built a truly comprehensive suite of sourcing, logistics,
sustainment solutions for PEOs, logisticians and contested
logistics professionals. The fusion of those tools with Exiger's
market-leading supply chain multi-tier visibility, mapping,
orchestration and risk analysis capabilities offers government and
DIB customers a one-stop shop solution."
Union Square Advisors LLC served as financial advisor and
Sidley Austin served as legal
advisor to Exiger on the transaction. This acquisition follows
Exiger's acquisitions of Versed AI and aDolus last month.
About Exiger
Exiger is revolutionizing the way
corporations, government agencies and banks navigate risk and
compliance in their third-parties, supply chains and customers
through its software and tech-enabled solutions. Exiger's mission
is to make the world a safer and more transparent place to succeed.
Empowering its 550 customers across the globe, including 150 in the
Fortune 500 and over 55 organizations across the Defense Industrial
Base and government agencies, with award-winning AI technology,
Exiger leads the way in ESG, cyber, financial crime, third-party
and supply chain management. Named one of Fast Company's 2023
'Brands That Matter' and recipient of the Third Party Risk
Association's 2024 Innovator Award, Exiger's work has been
recognized by 40+ AI, RegTech and Supply Chain partner awards.
Learn more at Exiger.com and follow Exiger on LinkedIn.
About XSB, Inc.
XSB, Inc. is a semantic data science
company known for its SWISS digital model data platform, which
transforms static documents (such as MS Word and PDF) from
standalone "dead-text" to a networked collection of interoperable,
"change aware" data elements and drawings — text, tables, graphs,
equations, and images. The underlying network of documents, models
of data, concepts, and the relationships between them is organized
in the SWISS Knowledge Graph which can be queried from other
applications via the SWISS API. SWISS was developed in part with
funding from the U.S. Department of Defense (Defense
Standardization Program and Defense Logistics Agency) and support
from major Standards Development Organizations and aerospace &
defense companies.
For more information, please contact:
Kody Gurfein
Chief Marketing Officer for Exiger
1.914.393.0398
kgurfein@exiger.com
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SOURCE Exiger