Columbia company closes $70M deal despite lawsuits

BigBear.ai completed its $70 million acquisition of a facial recognition artificial intelligence company Friday even as two lawsuits sought to block the deal. The Columbia technology firm (NYSE: BBAI) agreed to acquire Pangiam Intermediate Holdings in an all-stock deal in November. The company issued over 61 million shares of stock to Pangiam to complete the acquisition, based on a price per share of common stock of $1.34, according to a filing with the U.S. Securities and Exchange Commission.