Acquisition of Cutting-Edge Parts and Logistics Intelligence Platform Brings XSB’s 100M+ Parts and 400M+ Parts Attributes Database In-House to Exiger
BOSTON, MA. AUG. 13, 2024 – Progress Partners, a leading M&A advisory firm, is pleased to announce that it has successfully advised XSB, the market-leading logistics intelligence platform, on its acquisition by Exiger, a market-leading supply chain and third-party risk AI company. The acquisition combines XSB’s most comprehensive proprietary purchasing, design and sustainment intelligence and engineering analytics platform with Exiger’s own proprietary data and AI, creating an end-to-end solution for the logistics, PEO and acquisition communities.
XSB, founded by data scientists, employs an ensemble of AI-based applications to convert unstructured data into actionable intelligence. The company’s extensive graph database is widely used across government agencies, platforms, and combatant commands, as well as the Defense Industrial Base, includes a catalog of over 100 million parts and 400 million parts attributes used by the U.S. Federal Government.
“This acquisition is a testament to the growing demand for AI-driven solutions in addressing key pain points such as depot maintenance, category management, parts obsolescence, parts alternatives, price defensibility, and supply chain optimization,” said Carrie Wibben, President of Exiger. “XSB’s dataset and cutting-edge AI capabilities will enable our government customers to increase speed, efficiency, and execution while reducing counterfeit loss, manufacturing costs, research time, and the impact of out-of-date parts.”
From camouflage clothing to weapons systems, XSB’s products are essential tools for thousands of engineers, item managers, and catalogers to prevent supply chain interruptions and mitigate risks associated with diminishing supply sources, obsolescence, and nonconforming parts. The platform offers rich technical data for National Stock Numbers and component parts, reducing design, manufacturing, and selection costs while improving quality and reliability throughout the product lifecycle. Additionally, XSB helps customers identify supply chain partners, surface pricing and availability intelligence, and ensure compliance with regulatory standards such as Environmental, REACH, and RoHS.
Rupert Hopkins, CEO of XSB stated: “Progress Partners is the most valuable partner we could have. They took the time to understand our business and culture; and rapidly developed and executed a successful go-to-market strategy. Managing Director, Parag Sheth understands first-hand how the M&A process impacts the entrepreneur and the ability to operate a day-to-day business. The Progress team became one with us, they were at my side every moment to ensure our success. I couldn’t imagine this journey without them.”
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About Progress Partners
Progress Partners is a full-service investment bank providing M&A, capital raise and strategic growth expertise for emerging technology and digital media companies since 2002. As part of the next category of investment banking, Progress Partners are genuine experts who work with entrepreneurial leaders to realize superior value. Securities offered by FNEX Capital, LLC, member of FINRA and SIPC. For more information about Progress Partners’ exemplary services in investment banking, advisory and venture capital, please visit progresspartners.com.
About Exiger
Exiger is revolutionizing the way corporations, government agencies and banks navigate risk and compliance in their third-parties, supply chains and customers through its software and tech-enabled solutions. Exiger’s mission is to make the world a safer and more transparent place to succeed. Empowering its 550 customers across the globe, including 150 in the Fortune 500 and over 55 organizations across the Defense Industrial Base and government agencies, with award-winning AI technology, Exiger leads the way in ESG, cyber, financial crime, third-party and supply chain management. Named one of Fast Company’s 2023 ‘Brands That Matter’ and recipient of the Third Party Risk Association’s 2024 Innovator Award, Exiger’s work has been recognized by 40+ AI, RegTech and Supply Chain partner awards. Learn more at Exiger.com and follow Exiger on LinkedIn.
About XSB, Inc.
XSB, Inc. is a semantic data science company known for its SWISS digital model data platform, which transforms static documents (such as MS Word and PDF) from standalone “dead-text” to a networked collection of interoperable, “change aware” data elements and drawings — text, tables, graphs, equations, and images. The underlying network of documents, models of data, concepts, and the relationships between them is organized in the SWISS Knowledge Graph which can be queried from other applications via the SWISS API. SWISS was developed in part with funding from the U.S. Department of Defense (Defense Standardization Program and Defense Logistics Agency) and support from major Standards Development Organizations and aerospace & defense companies.
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