Pangiam, a technology-based security and travel services provider, has acquired VeriScan, an integrated biometric facial recognition system for airports and airlines, from the Metropolitan Washington Airports Authority.
This is the first acquisition completed by Pangiam since being formed by AE Industrial Partners LP through the combination of Linkware LLC and PRE LLC in October 2020. AEI is a private equity firm specializing in aerospace, defense, space and government services, power generation, and specialty industrial markets.
“Pangiam is excited to acquire VeriScan, which, through its state-of-the art technology, is truly revolutionizing the safety and ease of air travel today,” said Pangiam CEO Kevin McAleenan. “VeriScan’s cost effective, easy to implement cloud application makes it accessible to all airports and airlines, and we expect to see increased adoption of this technology this year as travel resumes globally. Pangiam looks forward to working with our clients to help speed adoption of solutions that deliver premier travel experiences for all.”
“VeriScan was envisioned and developed by the Airports Authority’s in-house technology team to meet new federal security screening requirements while improving and streamlining the passenger experience,” said John E. Potter, President and CEO of the Airports Authority.
Kirk Konert, a Partner at AEI, said, “Pangiam set out to reinvent the industry by offering technology that makes travel easier and more efficient, and VeriScan is a large step in advancing that goal. We are proud to support Pangiam as it stays vigilant for opportunities to grow its solution offerings as the industry gears up to meet pent-up travel demand.”