VTG acquires ASSETT
On August 25, Chantilly, VA-based VTG announced the acquisition of ASSETT, Inc., a pioneer in undersea warfare and unmanned systems technologies. The combination adds differentiated artificial intelligence/machine learning applications and unique submarine acoustic expertise to VTG’s growing naval systems portfolio.
“I’m excited to welcome ASSETT’s innovative engineers, software developers, and scientists to VTG,” said John Hassoun, VTG president and CEO. “Submarines, unmanned platforms, and AI/ML-enabled C5ISR systems will play an increasingly important role in Distributed Maritime Operations. ASSETT is developing the solutions and emerging technologies that will be foundational to this dispersed and networked fleet architecture. We look forward to bringing these transformational technologies and expertise to the Navy as well as customers across the Defense enterprise and Intelligence Community.”
Founded in 2001, ASSETT develops AI/ML applications for undersea and unmanned systems and is a longstanding industry leader in submarine SONAR acoustics and signal processing. In its mission-critical work to support defense modernization, the company has also developed and fielded a prototype integrated control system for combat submersibles and a battery management system for lithium-ion powered platforms.
ASSETT’s core capabilities include systems and cybersecurity engineering, software development and data science, with deep expertise in model-based systems engineering, DevSecOps, AI/ML, and human-machine teaming. The company has been remarkably adept at collaborating with customers to rapidly develop and field prototype technologies using Small Business Innovation Research phase three agreements and Other Transaction Authority contracts. These proprietary technologies are now the foundation of a growing VTG solutions portfolio well positioned for further development, fielding, and commercialization.
“ASSETT and VTG share similar cultures and strong core values, and I’m confident that this partnership will enable us to realize our vision of continuing to develop next generation solutions for our customers,” said ASSETT president, retired Rear Admiral Jim Shannon. “As a result of this acquisition, ASSETT employees will enjoy expanded growth opportunities and our combined clients will have access to a wider array of expertise, tools, and technologies to help them achieve their goals.”
Shannon, who previously served as Deputy Assistant Secretary of the Navy for International Programs as well as Deputy Commander of the Naval Sea Systems Command, will continue to lead ASSETT as it is integrated into the VTG enterprise as a technology development center of excellence.