{"id":50796,"date":"2023-09-07T15:52:43","date_gmt":"2023-09-07T15:52:43","guid":{"rendered":"https:\/\/one.sightlinemg.com\/defensenews\/uncategorized\/2023\/09\/07\/swedens-saab-snags-silicon-valley-based-crowdai\/"},"modified":"2026-08-08T18:32:12","modified_gmt":"2026-08-08T18:32:12","slug":"swedens-saab-snags-silicon-valley-based-crowdai","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/defensenews\/industry\/2023\/09\/07\/swedens-saab-snags-silicon-valley-based-crowdai\/","title":{"rendered":"Sweden\u2019s Saab snags Silicon Valley-based CrowdAI"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">WASHINGTON \u2014 Swedish defense company Saab AB acquired artificial intelligence firm CrowdAI, again expanding its footprint in the fast-growing sector.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The deal\u2019s closing was announced Sept. 7. No financial details were shared. Saab ranked No. 33 in <a href=\"https:\/\/people.defensenews.com\/top-100\/\" target=\"_blank\">the latest Defense News \u201cTop 100\u2033 analysis<\/a> of the world\u2019s largest defense companies, raking in $3.7 billion in defense revenue in 2022.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Erik Smith, president of Saab in the U.S., in a statement said the takeover provides the company \u201ca new capability as well as deeply rooted relationships with new customers.\u201d It also underscores \u201cour commitment to innovation and growth in the United States,\u201d he added.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Department of Defense last year selected CrowdAI to help aid AI adoption, under a contract worth up to $249 million. The company was also tapped in 2019 during <a href=\"https:\/\/www.defensenews.com\/c2-comms\/2019\/03\/07\/the-air-force-awarded-a-contract-after-just-3-minutes\/\" target=\"_blank\">a \u201cShark Tank\u201d-style event<\/a> the Air Force hosted to quickly ink contracts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As part of Saab, \u201cthe team we\u2019ve built will open new doors for dual-use technological advancement that aligns with the DoD\u2019s priorities,\u201d Devaki Raj, the cofounder of CrowdAI, said in a statement. Its future work will mainly be carried out in San Diego, California.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Saab last month <a href=\"https:\/\/www.defensenews.com\/global\/europe\/2023\/08\/31\/saab-buys-british-artificial-intelligence-specialist-bluebear\/\" target=\"_blank\">acquired BlueBear Systems<\/a>, a British company that specializes in autonomy, avionics, and modeling and simulation. Terms were not disclosed at the time. BlueBear last year had a turnover of \u00a38 million, or $10 million, Defense News reported.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saab ranked No. 33 in the latest Defense News \u201cTop 100,\u2033 an analysis of the world\u2019s largest defense companies.<\/p>\n","protected":false},"author":7,"featured_media":113031,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_meta-robots-noindex":"","_yoast_wpseo_meta-robots-nofollow":"","_yoast_wpseo_canonical":"","_acf":"","_yoast_wpseo_primary_category":12,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_smg_distribution_targets":[]},"categories":[160,46,11,33,12,36],"tags":[],"coauthors":[3503],"class_list":["post-50796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news-roundup","category-europe","category-global","category-home","category-industry","category-newsletters"],"acf":{"subheadline":"","legacy_arc_id":"WCWWH5CESNABJJ4NTNLRXY3TOQ","arc_canonical_url":"\/industry\/2023\/09\/07\/swedens-saab-snags-silicon-valley-based-crowdai\/","remove_feature_photo":false,"is_sponsored":false,"subtype":"","redirect_url":"","disable_inline_ads":false,"native_logo_pretext":"Presented 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