Executive 1 Holding Company Completes Acquisition of Plasticity AI, Furthering Investment in Artificial Intelligence and Natural Language Processing
TYSONS, Va., October 16, 2020 (Newswire.com) - Executive 1 Holding Company, LLC (EX1) has closed on and acquired San Francisco-based Plasticity AI, an Artificial Intelligence (AI), Natural Language Processing (NLP), and Machine Learning (ML) software services provider
EX1 is the holder of leading consulting and technology solutions companies collaborating with the Federal government, working at the forefront of organizational transformation using AI, ML, and NLP. With this acquisition, Plasticity's industry-leading technology platforms will provide the EX1 family of companies with increased and cutting-edge capabilities in Enterprise decision analytics, predictive decisions, cost savings, accountability, efficiency, data transparency and advisory services.
EX1 CEO Moe Jafari said, "The Plasticity AI creative team will be actively involved in supporting our customers in the Federal government; increasing functionality and engineering efficient and incisive solutions to complex challenges." He emphasized that Plasticity AI will remain independent as a wholly owned subsidiary of EX1.
Plasticity's data visualization capabilities provide Leaders with data trends and patterns that will help them make better decisions and create smoother transfers of knowledge. Plasticity's software helps developers create human-like natural language interfaces. Combined with EX1's existing resources, Plasticity AI software will provide value in leveraging unique market opportunities, opening the possibility of new contracts, and adding additional qualifications in the growing AI/ML/NLP market space.
Plasticity AI co-founder Ajay Patel said, "We're excited to bring Plasticity's natural language understanding technology and APIs to the EX1 family of companies. We're impressed with the large number of federal, Department of Defense, and commercial customers EX1 serves and see an exciting opportunity to expand with them over these next few years."
Alex Sands, Plasticity's co-founder said, "Together, Plasticity AI and EX1 have an incredible opportunity to build the future platform for understanding unstructured data. We created Plasticity AI to help customers easily add rich natural language processing and machine learning capabilities to their applications. By joining EX1 and applying Plasticity's technology, we'll be able to serve customers in a variety of new and exciting ways, bringing even deeper insights from data to power government and commercial decision-making."
Consumers, businesses, and government are all embracing AI in the marketplace. According to Gartner, government and private firms are forecasted to spend over $125 Billion by 2025 on AI products and services. Plasticity AI is well-positioned to capitalize on this growth. EX1 companies find solutions to complex business challenges, and AI is an increasingly significant part of that formula.
Executive 1 Holding Company, is a private holding firm that invests in AI/ML/NLP SaaS/PaaS. Current investments Plasticity AI, HumanTouch, LLC, and CORAS are positioned to lead in these technologies. EX1 strategic solutions and applications bring together innovators, experts and data scientists in solving government's business challenges. The EX1 mission is to provide superior human interactions and client support for the DoD, Federal Agencies and commercial organizations with service and technology that leverages cutting-edge data science applications.
Press contact Rebecca Churchill, 703-214-0076, rc@churchillcommunicationsllc.com
Source: Executive 1 Holding Company, LLC
