AcquisitionsJul 29, 2026, 04:28 PM
Procore to Acquire DroneDeploy for $845M Cash
AI Summary
Procore Technologies, Inc. announced it has entered into a definitive agreement to acquire DroneDeploy, Inc. for approximately $845.0 million in cash. DroneDeploy, a leader in reality capture and robotic automation for the built world, will become a wholly-owned subsidiary of Procore, enhancing Procore's AI strategy and visual intelligence capabilities. Procore has secured a debt financing commitment of up to $700.0 million from Goldman Sachs Bank USA to help fund the acquisition, which is expected to close by the end of 2026.
Key Highlights
- Procore Technologies to acquire DroneDeploy, Inc. for approximately $845.0 million in cash.
- DroneDeploy is a software company providing cloud-control software solutions for drones and robots.
- The acquisition aims to integrate DroneDeploy's reality capture and robotics into Procore's platform.
- Procore secured a debt financing commitment of up to $700.0 million via a bridge loan facility from Goldman Sachs.
- A retention pool of equity awards or cash will be created for certain DroneDeploy service providers.
- The transaction is expected to close by the end of 2026, subject to regulatory approvals and stockholder adoption.
Price Impact
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