Saab acquires CrowdAI

Saab announced today it has bought Silicon Valley, CA-based artificial intelligence/machine learning company CrowdAI.

Financial terms of the deal weren't disclosed, and the acquisition "is part of Saab's technology leadership in this new era for the defense industry," the company said in a statement.

Future operations will be carried out primarily in San Diego, according to Saab.

Erik Smith, president and CEO of Saab in the U.S., said the acquisition "brings a new capability as well as deeply rooted relationships with new customers to Saab, underscoring our commitment to innovation and growth in the United States."