Executive 1 Holding Co. is set to acquire California-based Plasticity, Inc., an artificial intelligence and natural language processing software company, in efforts to expand the former company’s technology capability offerings.
EX1 announced Sept. 24 it has signed a definitive stock purchase agreement set to close in October to buy Plasticity. As is, EX1 has subsidiary companies, including HumanTouch LLC and CorasCloud, Inc., which provide consulting and technology solutions to the federal government.
After the transaction, Plasticity will remain an independent company and become a wholly owned subsidiary of EX1. Plasticity’s team will be actively involved in supporting customers.
Adding Plasticity will strengthen and expand the technological capabilities offered by EX1’s family of companies, specifically in AI, ML and NLP. Specifically, Plasticity’s platforms will provide new avenues for advisory services, enterprise decision analytics, predictive decisions, cost savings, accountability, efficiency and data transparency.
EX1 CEO Moe Jafari said the goal is to leverage AI/ML/NLP to better serve the company’s core Defense Department customers.
“Plasticity’s technology stack and kernels will help our partners further their approach and answer questions yet to be asked,” he added. “Plasticity’s capabilities and solutions will drive thought, insight and auditable solutions for our Federal Civilian and Military clients’ complex challenges.”
As part of the acquisition, EX1 will also have a team of data scientists who are AI and NLP experts, as well as adopting the “Plasticity” software that helps developers create humanlike natural language interfaces. The integration will allow EX1 to leverage unique market opportunities within federal government innovation grant programs, provide additional consulting capabilities and qualifications in the AI/ML/NLP market, and open new contract opportunities in defense, health care and financial sectors.
The CORAS Enterprise Decision Management platform already uses AI and ML with real-time decision-making tools, said Dan Naselius, president and chief technology officer of CORAS. Adding Plasticity’s NLP is like adding rocket fuel to what its software already does in reference to its work for the Armed Forces in execution, accountability, transparency, decision-making and traceability, he said.
“With Plasticity’s NLP, we will have the first federally focused Enterprise platform that truly listens to its users and uses structured and unstructured data to help them do their jobs better,” Naselius added.