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Procore to acquire DroneDeploy for $845M
['Matthew Thibault']
Construction Dive - Latest News
Please let us know if you have feedbackDive Brief:Contech giant Procore has entered an agreement to acquire DroneDeploy , a prominent robotics and visual intelligence platform that’s used in over 180 countries, according to a Wednesday announcement.
Procore will acquire the firm for $845 million in cash, subject to customary purchase price adjustments.
When the acquisition closes later this year, Procore and DroneDeploy will sell one another’s solutions to their client base, Ajei Gopal, president and CEO of Procore, said in the announcement.
The combination will create a veritable ocean of construction data.
At the time, Procore flagged the acquisition as part of its strategy to bolster its AI strategy and capabilities.