Demonstrates Union Square Advisors’ extensive platform in providing comprehensive advisory services and expertise in the risk management and supply chain management sectors
On August 8th, 2024, Union Square Advisors announced it has served as financial advisor to Exiger, the market-leading supply chain and third-party risk AI company, in its August 7th acquisition of XSB.
Founded by data scientists, XSB uses an ensemble of AI-based applications to transform unstructured data into actionable intelligence. XSB’s graph database is widely used across government agencies, platforms and combatant commands, as well as the Defense Industrial Base. The company’s catalog spans 100 million parts and 400 million parts attributes used by the U.S. Federal Government, from camouflage clothing to weapons systems.
“This acquisition is in response to a growing number of customers who are eager to bring the power of AI to pain points like depot maintenance, category management, parts obsolescence, parts alternatives, price defensibility, and supply chain optimization, and want to be able to access these capabilities within Exiger’s centralized platform,” said Exiger President Carrie Wibben. “XSB’s dataset and cutting-edge AI capabilities will help our government customers increase speed, efficiency and execution, while reducing counterfeit loss, manufacturing costs, research time and the impact of out-of-date parts.”
XSB’s product suite is used by thousands of engineers, item managers and catalogers to prevent supply chain interruptions and mitigate risks from 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 life cycle. In addition to identifying supply chain partners and surfacing pricing and availability intelligence, XSB helps customers ensure compliance with regulatory standards such as Environmental, REACH and RoHS.
“We’re bringing an essential, proprietary trove of data in-house and combining that with Exiger’s multi-tier orchestration capabilities to deliver a single, seamlessly integrated sophisticated solution to accelerate the design, build and procurement process across all systems and processes,” said President of Exiger Government Solutions Cam Holt. “In doing so, we’ve eliminated the need for standalone logistics systems while super powering those capabilities within a larger, full spectrum risk management platform.”
“XSB’s highly trained AI solutions and proprietary knowledge base of parts, materials and processes will flourish within Exiger’s larger software ecosystem and vast customer base,” said XSB Founder and CEO Rupert Hopkins. “We’ve built a truly comprehensive suite of sourcing, logistics, sustainment solutions for PEOs, logisticians and contested logistics professionals. The fusion of those tools with Exiger’s market-leading supply chain multi-tier visibility, mapping, orchestration and risk analysis capabilities offers government and DIB customers a one-stop shop solution.”
“Union Square Advisors is incredibly pleased to continue our partnership with the Exiger team, advising on a second acquisition for Exiger in the risk management and supply chain sectors,” said Carter McClelland, Chairman at Union Square Advisors.
For more information, read the full press release here.
