- Forward Slope Incorporated, backed by Trive Capital, acquires Soar Technology, Inc., a leading provider of advanced AI solutions for the Department of Defense.
- The acquisition aims to deliver more comprehensive solutions to marquee defense and national security customers by combining Forward Slope’s software expertise with SoarTech’s AI and machine learning capabilities.
SAN DIEGO and DALLAS, Aug. 24, 2023 — In its second strategic move this week, Trive Capital-backed Forward Slope Incorporated (“Forward Slope” or “FSI”) has acquired Soar Technology, Inc. (“SoarTech”). The acquisition promises to be a game-changer in the defense technology landscape.
Expanding Core Competencies
The partnership between Forward Slope and SoarTech is not merely a business transaction; it’s a strategic alignment aimed at delivering comprehensive solutions to high-profile defense and national security customers. SoarTech, renowned for its advanced artificial intelligence (AI) solutions, will continue to operate under its existing leadership, who have also invested alongside Trive.
“SoarTech’s AI solutions act as a force multiplier to enable quicker, better decisions and simplify human-machine interaction,” said Mike van Lent, Chief Executive Officer of SoarTech. “We believe that joining forces with Forward Slope will accelerate opportunities for SoarTech and allow us to solve complex DOD challenges in an agile way.”
A Milestone for Forward Slope
Carlos Persichetti, Chief Executive Officer of Forward Slope, echoed the sentiment. “This partnership represents another significant milestone for Forward Slope,” he said. “SoarTech’s unique expertise in AI and ML technologies will enable the combined platform to offer more integrated solutions that support critical DOD initiatives.”
David Stinnett, Partner at Trive Capital, also weighed in on the acquisition. “As we continue to invest into the Forward Slope platform, we are thrilled to partner with SoarTech to add artificial intelligence capabilities that support and enable tactical decision making in an increasingly complex defense environment,” he said.
Legal and Financial Advisors
KippsDeSanto & Co. acted as the financial advisor, and Pillsbury Winthrop Shaw Pittman LLP served as the legal counsel to SoarTech. On the other side, Haynes & Boone LLP provided legal counsel to Trive Capital and Forward Slope.
