Greystones Group, a woman-owned small business, said it has acquired the intellectual property for a proprietary advanced data analytics software it plans to market to federal agencies for mission critical missions.
Terms of the transaction were not disclosed.
Greystones said the commercial-off-the-shelf (COTS) open architecture tools support artificial intelligence, machine learning and natural language processing analytics within the security and compliance standards of federal agencies. The software is currently deployed at the Treasury Department to help analysts identify tax fraud.
In addition to its use at the Treasury Department, the software is in the early stages of support to an Air Force weapons system, Greystones said.
Greystones said the software extends the capability of its Small Business Innovation Research technology. The Navy is a long-time customer of Greystones and the company said it plans to bring its new software to the Navy and expand its footprint with the Air Force and Treasury.
“There are many artificial intelligence/machine learning/natural language processing vendors marketing their capabilities, but few have proven COTS technology, along with a deep understanding of the federal government acquisition and technology environments,” Scott Gray, a senior adviser to Greystones, said in a statement. “In addition, the SBIR contract vehicle leverages existing federal government investment in technology and supports streamlined acquisition, making it easier and more cost effective for government customers to get the advanced capabilities they need.”