AE Industrial Acquires Two Companies to Develop Seamless Travel Solutions

The private equity firm AE Industrial Partners (AEI) is targeting the travel security industry after acquiring Linkware and Pangiam. The former develops custom software solutions for government agencies, while the latter consults on security and travel services.

AEI itself specializes in aerospace and defense, and plans to merge the two companies into a single entity that will focus on seamless travel solutions. The new joint entity will operate as Pangiam, though it will continue to use the Linkware brand when providing digital services to government agencies. AEI did not disclose the terms of either acquisition.

Linkware’s portfolio contains AI and deep learning software that can support high-level security applications, including those that incorporate facial recognition and other biometric modalities. That technology would likely be deployed in any proposed travel security platform, where it would help meet the growing demand for seamless and contactless passenger solutions. Pangiam hopes to leverage its existing network to sell the platform when it goes to market.

“Both government and commercial customers are seeking state-of-the art solutions to make travel safer and more streamlined,” said AEI Principal Bryan McElwee. “We believe the combined company will meet the needs of all customers with comprehensive offerings.”

“We share Pangiam’s vision to push the boundaries of innovation in the travel and security ecosystem to enable greater opportunities for more secure and seamless travel,” added Linkware Co-Founder Leo Fthenos. “With strong support from Pangiam and AEI, we look forward to accelerating our efforts and delivering new capabilities to the market.”

AEI confirmed that Linkware’s co-founders would stay on as Managing Directors at Pangiam, and that they would become meaningful stakeholders in the company. Pangiam Co-Founders Kevin McAleenan and Patrick Flanagan will be tasked with running the combined entity, with McAleenan acting as CEO and Flanagan stepping up as Chief Operating Officer. 

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November 4, 2020 – by Eric Weiss