Threat detection acquisition brings AI to bear on mass violence
The XTRACT acquisition, says the company, is part of its ongoing strategic initiative to bring together leading-edge technologies and services that will enhance the power of its PATSCAN Multi-Sensor Covert Weapon Detection Platform, which offers an unobtrusive, layered, multi-sensor approach to concealed threat and disturbance detection. In July the company had announced a collaboration agreement with Xtract to explore how AI technology can augment multiple data sets, such as people and threat objects, to enhance sensor threat-detection performance.
“Just over a month ago, we announced a development project with XTRACT, and during this period we’ve already seen great progress in significant opportunities for enhanced detection accuracy,” says Martin Cronin, Patriot One’s CEO and President. “With new sales opportunities arising every day for a covertly deployed, multi-sensor security solution, integrating XTRACT more deeply into our development and day-to-day operations made perfect sense. We are thrilled to have this highly talented group join our ranks; as they share our vision for creating a world safer from acts of mass violence.”
The XTRACT team, says the company, will bring additional leading-edge expertise in AI and machine learning to Patriot One. XTRACT’s neural network architecture and data fusion techniques are robust, efficient, and require less memory than comparable standards the company says.
With several strategic PATSCAN deployment initiatives in progress, including with Johnson Controls International and Bleutech Park-Las Vegas announced over the last month, says the company, it sees this move as both necessary and a key differentiator for its future platform development. As a wholly owned subsidiary, XTRACT will continue to operate as its own business unit and under its current brand name and will continue to service existing clients.
XTRACT has previously developed and successfully implemented solutions for military, government, industrial, environmental, and transportation clients. Equally importantly, says the company, XTRACT’s engineers and data scientists possess security clearance to work on government defense projects.
The company acquired XTRACT for $6,000,000 and the issuance of 9,422,956 Patriot One common shares to XTRACT’s former shareholders.
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