From The Real Deal · TRD Staff · · 40s
CoStar Acquires Vexcel for $730M
CoStar buys aerial imagery firm Vexcel for $730 million to boost real estate data AI capabilities.
In brief
CoStar buys aerial imagery firm Vexcel for $730 million to boost real estate data AI capabilities. CoStar acquires Vexcel for $730 million to enhance its AI-powered real estate data portfolio ahead of Q3 earnings. Originally reported by The Real Deal.
CoStar Acquires Vexcel
CoStar buys aerial imagery company Vexcel for $730 million to boost real estate data AI capabilities.
“It is clearly aligned with our mission of digitizing the world’s real estate with an incredible ability to leverage ai to create proprietary real estate data of durable value”
Vexcel's Business Model
Vexcel uses manned aircraft and proprietary technology to amass tens of millions of aerial photographs annually across dozens of countries.
Q3 Earnings Impact
CoStar's Q3 revenue jumped 14% year over year to $952 million but annualized net new bookings halved to $37 million.
The short version
CoStar acquires Vexcel for $730 million to enhance its AI-powered real estate data portfolio ahead of Q3 earnings.
