News of a fresh business partnership, combined with a modest rally in tech stocks, helped drive up the share price of BigBear.ai (BBAI +11.19%) on Friday. The company's stock rose at double-digit rates, closing the day more than 11% higher.
Going on defense
Just after market close on Thursday, BigBear.ai announced its latest public-sector business collaboration. It wrote in a press release that it has formed a strategic partnership with C Speed, a defense company specializing in radar technology.
Image source: Getty Images.
BigBear.ai and C Speed will team up to integrate the former company's ConductorOS artificial intelligence (AI) platform with the latter's LightWave Radar (LWR) system to enhance threat detection and decision-making for military and security clients.
This appears to be a globe-spanning partnership; in the press release trumpeting the tie-up, BigBear.ai stated that it would involve its recently opened office in Abu Dhabi, United Arab Emirates. The Middle East is an ideal region for deploying cutting-edge threat detection technology.
NYSE: BBAI
Key Data Points
Questions raised
While BigBear.ai provided numerous details of how the C Speed collaboration would work, it was mum on the financial particulars. Without knowing any figures or any time scale of the partnership, it's tough to judge how it might affect the company's fundamentals. Having said that, though, it's encouraging that BigBear.ai is teaming up for what seems like a potentially lucrative, sizable, and lengthy project.
