France’s Safran on Monday said it has entered exclusive discussion to acquire Preligens, a small company that develops artificial intelligence to automate the analysis of geospatial intelligence (GEOINT) such as imagery and full-motion video in a deal valued at $236 million.
Preligens, a startup that is also based in France, had more than $30 million in sales in 2023 and has about 220 employees, including 140 engineers involved in research and development, Safran said. The transaction is expected to close in the third quarter of 2024.
The company’s AI technology can detect, identify, and classify images in snow and ice, significant cloud cover, low resolution, and camouflauge.
Safran said it will apply Preligen’s AI expertise in new areas.
“The proposed acquisition of Preligens will boost the adoption of AI within the group, thus optimizing our agility and efficiency,” Olivier Andries, Safran’s CEO, said in a statement. “With multiple applications, it will represent a step-change for our defense and space technology businesses and will also allow us to deploy AI-enabled digital inspection methods to support our focus on flight safety and quality.”
Preligens’ AI analytics are also applied to acoustic signals. The company’s technology is applied to commercial and government satellite imagery and automatically detects and classifies items of military interest. The company has offices in Paris, Rennes, France, and Washington, D.C., and has contracts with intelligence agencies within NATO and allied countries.
Preligens said the deal will give it a chance to increase its business in the U.S.