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Maxar Technologies (NYSE:MAXR) (TSX:MAXR), provider of comprehensive space solutions and secure, precise, geospatial intelligence, today announced that it has completed the acquisition of AI and software development company Wovenware . This acquisition significantly adds to Maxar's software engineering and AI capabilities and talent.
Founded in Puerto Rico in 2003, Wovenware has roughly 150 employees specializing in software development, service design, artificial intelligence and geospatial production. The company will become one of Maxar's software development and AI/machine learning (ML) centers of excellence, with its software delivery experts partnering closely with other Maxar teams to develop new solutions for customers.
"In today's everchanging world, our customers are continuously looking for ways to access our industry-leading products faster and more efficiently—AI and machine learning is critical to accelerating growth," said Dan Jablonsky, Maxar President and Chief Executive Officer. "Wovenware's incredibly talented team of software engineers complements Maxar's product development and delivery talent. Our teams already have a track record of working together to deliver customer solutions, and we are excited to work even more closely together to grow and expand our installed customer base."
Since 2017, Wovenware has worked closely with Maxar on numerous customer delivery and internal software engineering initiatives, including for Maxar's global imagery basemaps, Precision3D applications and more.
Specifically, Wovenware's AI/ML and Data Production talent has supported Maxar projects ranging from UI design to full-stack delivery, producing new 3D terrain analytics tools, thousands of ML training data sets and dozens of automated object detection models. Wovenware's co-founders, Christian González and Carlos Meléndez, will continue to oversee day-to-day operations of the company.
"Wovenware is excited to join the Maxar team. Having worked together for five years, we've experienced first-hand the synergies between our companies and the shared commitment to technology innovation and customer and employee success," said Christian González, co-founder of Wovenware.
"Becoming one of Maxar's software development and AI/ML centers of excellence enables us to accelerate our commitment to expand our employee footprint and bring the most exciting innovation and technology projects to Puerto Rico," added Carlos Meléndez, co-founder of Wovenware.
Wovenware will operate as a wholly owned subsidiary of Maxar, which will continue to invest in Wovenware's growth in Puerto Rico. Maxar will provide additional resources to help the company draw from the best engineering talent across the island as well as to support its efforts to bring more talent from the mainland and elsewhere back to the island.
About Maxar
Maxar Technologies (NYSE:MAXR) (TSX:MAXR) is a provider of comprehensive space solutions and secure, precise, geospatial intelligence. We deliver disruptive value to government and commercial customers to help them monitor, understand and navigate our changing planet; deliver global broadband communications; and explore and advance the use of space. Our unique approach combines decades of deep mission understanding and a proven commercial and defense foundation to deploy solutions and deliver insights with unrivaled speed, scale and cost effectiveness. Maxar's 4,400 team members in over 20 global locations are inspired to harness the potential of space to help our customers create a better world. Maxar trades on the New York Stock Exchange and Toronto Stock Exchange as MAXR. For more information, visit www.maxar.com .
About Wovenware
As a design-driven software firm, Wovenware delivers custom and patented AI, computer vision and other digital transformation solutions and services that create measurable value for customers. Through its nearshore capabilities, the company has become the partner of choice for organizations needing to re-engineer their systems and processes to increase profitability, boost user experience and seize new market opportunities. Wovenware leverages a multidisciplinary team of world-class experience designers, software engineers, data scientists and data specialists to create solutions for cloud transformation, advanced AI innovation and application modernization. Headquartered in Puerto Rico, Wovenware partners with customers across North America and around the world. To learn more about Wovenware, visit www.wovenware.com .
Forward-Looking Statements
This press release may contain forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Any such forward-looking statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements, including those included in the Company's filings with U.S. securities and Canadian regulatory authorities. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than as may be required under applicable securities law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221102006162/en/
Investor Relations Contact:
Jonny Bell
Maxar Investor Relations
1-303-684-5543
jonny.bell@maxar.com
Media Contacts:
Tomi Maxted
Maxar Media Relations
1-303-684-4162
Tomi.maxted@maxar.com
Linda Savage
Wovenware Media Relations
508-224-7905
lsavage@wovenware.com
