Pangiam, a technology-based security and travel services provider, has acquired Trueface, a U.S.-based provider of in computer vision servicesfocused on facial recognition, weapon detection and age verification technologies. Terms of the transaction were not disclosed.
This is the second acquisition completed by Pangiam since being formed by AE Industrial Partners LP through the combination of Linkware LLC and PRE LLC in October 2020. In March, Pangiam acquired veriScan, an integrated biometric facial recognition system for airports and airlines, from the Metropolitan Washington Airports Authority.
“We are excited to welcome Trueface to the Pangiam family. Shaun and Nezare are pioneering thought leaders whose advances in computer vision have the potential to drive innovation in identity management, data labeling and biometrics,” said Pangiam CEO Kevin McAleenan.
“We are thrilled to join the talented team at Pangiam who share our core values to provide equitable benefit to all through computer vision technology. The complimentary technologies that Pangiam has assembled will enable the Trueface team to execute more quickly and fully realize the opportunity of its technologies like facial recognition,” said Shaun Moore, CEO of Trueface.
“Adding Trueface’s technology solutions to Pangiam’s offerings comes at a perfect time, as travel is poised to continue to rebound and passengers want reassurances that the highest health and safety protocols are being followed,” said Kirk Konert, a partner at AEI. “AEI is pleased to back Pangiam’s second acquisition this year as we continue to support the company’s momentum.”