In General XR News
July 6, 2023 – Akima, a provider of products and services to the U.S. federal government, has recently announced that it has completed the acquisition of Pinnacle Solutions, Inc. (Pinnacle), a provider of virtual and augmented reality (VR/AR) training solutions to defense customers around the globe.
“We are thrilled to add Pinnacle’s innovative technology solutions and capabilities to the Akima family,” said Bill Monet, President and CEO of Akima. “Pinnacle’s talented people and commitment to their customer’s mission complements Akima’s value-driven culture. Pinnacle will significantly enhance our ability to serve our aerospace customers.”
According to Akima, the acquisition expands the company’s aviation and training capabilities in the defense market, and will help to further enable the company to provide value to its customers in the aerospace industry. The company noted that Pinnacle brings differentiated mission readiness capabilities, as well as a workforce of 500 employees, which will add momentum and innovation to Akima’s support for customer missions.
Founded in 2008 and headquartered in Huntsville, Alabama, U.S., Pinnacle provides a range of virtual training solutions that cover topics including aviation operations and maintenance services, flight operations and training services, and services for air, ground, unmanned, and maritime platforms. The company employs the use of mixed reality technologies across several of its training platforms, in order to educate end-users and maximize training effectiveness.
Akima stated that Pinnacle will operate as a wholly owned subsidiary of Akima, with Tina Tucker retaining her role as President of the company.
“The closing of this transaction represents the beginning of a new chapter for Pinnacle, and we are excited for what the future holds,” said Tucker. “We believe our deep expertise, network, and strong market position will help accelerate Akima’s growth and drive greater value for its customers and employees.”
Pinnacle was recently awarded a seat on a USD $32.5 billion Training Systems Acquisition IV IDIQ contract for the U.S. Air Force. Under the multi-award contract, Pinnacle will have the opportunity to provide for the analysis, design, development, production, installation, integration, testing, and sustainment of Air Force training systems.
For more information on Pinnacle Solutions, Inc. and its virtual training solutions, please visit the company’s website.
Image credit: Akima / Pinnacle Solutions, Inc.
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Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.