Trive Capital Acquires Hypergiant Industries
Private equity firm Trive Capital is acquiring Hypergiant Industries to advance its AI solutions for the defense sector. Trive Capital, based in Dallas, announced the acquisition on Tuesday. Terms of the deal were not disclosed.
Thrive Capital Partner David Stinnett said that Hypergiant has a geospatial data visualization capability that puts the company at the leading edge of C5ISR technologies. Trive Capital plans to formalize a long-term partnership between Hypergiant and its portfolio company, Forward Slope, that works with government contracting and GIS applications.
Hypergiant was founded in 2018 and offers the geospatial data visualization platform CommandCenter, that ingests information and makes AI-generated recommendations to Department of Defense customers and critical industries. The company recently won a three-year contract to deliver CommandCenter as a cloud-based command and control platform for the Department of the Air Force’s Advanced Battle Management System (ABMS). The contract has a potential total value of $61 million.
Hypergiant CEO Mike Betzer will continue leading the company. Terms of the transaction were not disclosed.
“Space, defense, and American critical infrastructure all face similar challenges and need AI-enabled common operating pictures for quick and informed decision making. Our approach is to take government-funded projects, where we are building highly performant and secure, battle-ready solutions, and bring that technology to the private sector with mission-specific customization,” said Hypergiant CEO Mike Betzer.
“We are excited to partner with Trive as a long-term partner who truly understands the sector and can help accelerate adoption of our platform and offerings to an even broader set of private and public sector clients,” he added.